{"id":90166,"date":"2019-10-31T15:56:41","date_gmt":"2019-10-31T10:26:41","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=11295"},"modified":"2019-10-31T15:56:41","modified_gmt":"2019-10-31T10:26:41","slug":"nirvik-scheme-2","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/nirvik-scheme-2\/","title":{"rendered":"Nirvik Scheme"},"content":{"rendered":"\n<p><strong>News:<\/strong>The Export Credit Guarantee Corporation of India(ECGC) has said that the Nirvik scheme announced by the Union Government would give a fillip to export lending and insurance cover for export credit.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>About the scheme:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The scheme aims to ease the lending process and enhance loan availability for exporters.<\/li><li>Under the scheme,the insurance cover guaranteed will cover up to 90% of the principal and interest.The insurance cover will include both pre and post-shipment credit.<\/li><li>The enhanced cover will ensure that Foreign and Rupee export credit interest rates will be below 4% and 8% respectively for exporters.<\/li><li>The gems, jewellery and diamond(GJD) sector borrowers with a limit of over Rs 80 crore will have a higher premium rate in comparison to the non-GJD sector borrowers of this category due to the higher loss ratio.<\/li><li>The scheme also mandates inspection of bank documents and records by ECGC officials for losses exceeding Rs.10 crore as against the present Rs 1 crore.<\/li><\/ul>\n\n\n\n<p><strong>Significance of the scheme:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>This scheme will help make Indian exports competitive and make ECGC procedures exporter friendly, benefiting MSME exporters.<\/li><li>The insurance cover is also expected to bring down the cost of credit due to capital relief, less provision requirement and liquidity due to quick settlement of claims.<\/li><\/ul>\n\n\n\n<p><strong>Additional information:<\/strong><br><\/p>\n\n\n\n<p><strong>Export Credit Guarantee Corporation(ECGC):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>ECGC is a premier export credit agency of the Government of India to provide Export Credit Insurance Services to facilitate exports from the country.It was founded in 1957.It is headquartered at Mumbai.<\/li><li>The ECGC offers credit insurance schemes to exporters to protect them against losses due to non-payment of export dues by overseas buyers due to political or commercial risks.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:The Export Credit Guarantee Corporation of India(ECGC) has said that the Nirvik scheme announced by the Union Government would give a fillip to export lending and insurance cover for export credit. Facts: About the scheme: The scheme aims to ease the lending process and enhance loan availability for exporters. Under the scheme,the insurance cover guaranteed&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/nirvik-scheme-2\/\">Continue reading <span class=\"screen-reader-text\">Nirvik Scheme<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1731],"tags":[3593,3851],"class_list":["post-90166","post","type-post","status-publish","format-standard","hentry","category-bill-and-acts","tag-ecgc","tag-nirvik-scheme","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704814075},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/90166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=90166"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/90166\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=90166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=90166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=90166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}