Q: What do you mean by ECGC.
A:Export credit guarantee corporation of India Ltd.
Q:What is its Objective.
A:"You focus on exports, we cover the risks." is tag line of ECGC. its covers various risks of exporters.
Q:Tell Some Thing About ECGC.
A:The need for export promotion had started immediately after Independence in 1947.
In 1953, a proposal for initiation of an export credit guarantee scheme was put forward at a meeting of the Export Advisory Council . Ministry of Commerce & Industry analyzed in depth the pros and cons of the Export Credit Insurance Scheme and a revised draft proposal on the scheme was presented to the Export Advisory Council in 1955.
Shri T T Krishnamachari, Finance Minister in Pandit Nehru’s cabinet appointed a special committee under the Chairmanship of Shri T.C.Kapur to examine the feasibility of setting up an effective organization to provide insurance against export credit risks. The Government accepted the recommendations of Kapur Committee and thus the Export Risk Insurance Corporation (ERIC) was registered on 30th July 1957 in Mumbai as a Private Ltd. Company, entirely state owned, under the Companies Act with an authorized capital of Rs.5 crores and paid up capital of Rs.25 lakhs. Shri Ratilal M Gandhi was the First Chairman and Shri T C Kapur was the First Managing Director of the Corporation. Shri Morarji Desai, Union Commerce Minister inaugurated ERIC and the first Policy was issued on 14th October 1957.
After introduction of insurance covers to banks during the period 1962-64, ERIC’s name was changed to Export Credit & Guarantee Corporation Ltd in 1964.
To bring Indian identify in the name, ECGC was renamed as Export Credit Guarantee Corporation of India Ltd in the year 1983.
Q:What are Objectives of ECGC.
A:The Corporation has set before itself the following objectives:
1. To encourage and facilitate globalization of India’s trade.
2. To assist Indian exporters in managing their credit risks by providing timely information on worthiness of the buyers, bankers and the countries.
3. To protect the Indian exporters against unforeseen losses, which may arise due to failure of the buyer, bank or problems faced by the country of the buyer by providing cost effective credit insurance covers in the form of Policy, Factoring and Investment Insurance Services comparable to similar covers available to exporters in other countries.
4. To facilitate availability of adequate bank finance to the Indian exporters by providing surety insurance covers for bankers at competitive rates.
5. To achieve improved performance in terms of profitability, financial and operational efficiency indicators and achieve optimum return on investment.
6. To develop world class expertise in credit insurance among employees and ensure continuous innovation and achieve the highest customer satisfaction by delivering top quality service.
7. To educate the customers by continuous publicity and effective marketing.
Q:What are Products Of ECGC.
A:1.Export credit insurance for exporters.
2.Export credit insurance for Banks.
3.Factoring.
4.buyer"s credit cover.
5.line of credit cover.
6.transfer guarantee.
7. overseas investment insurance.
8.customer specific covers.
Q:Where its head office is located.
A: MUMBAI.
Q: How many regional office are there.
A: 5,Eastern, Northern, southern1, southern2, western.
A:Export credit guarantee corporation of India Ltd.
Q:What is its Objective.
A:"You focus on exports, we cover the risks." is tag line of ECGC. its covers various risks of exporters.
Q:Tell Some Thing About ECGC.
A:The need for export promotion had started immediately after Independence in 1947.
In 1953, a proposal for initiation of an export credit guarantee scheme was put forward at a meeting of the Export Advisory Council . Ministry of Commerce & Industry analyzed in depth the pros and cons of the Export Credit Insurance Scheme and a revised draft proposal on the scheme was presented to the Export Advisory Council in 1955.
Shri T T Krishnamachari, Finance Minister in Pandit Nehru’s cabinet appointed a special committee under the Chairmanship of Shri T.C.Kapur to examine the feasibility of setting up an effective organization to provide insurance against export credit risks. The Government accepted the recommendations of Kapur Committee and thus the Export Risk Insurance Corporation (ERIC) was registered on 30th July 1957 in Mumbai as a Private Ltd. Company, entirely state owned, under the Companies Act with an authorized capital of Rs.5 crores and paid up capital of Rs.25 lakhs. Shri Ratilal M Gandhi was the First Chairman and Shri T C Kapur was the First Managing Director of the Corporation. Shri Morarji Desai, Union Commerce Minister inaugurated ERIC and the first Policy was issued on 14th October 1957.
After introduction of insurance covers to banks during the period 1962-64, ERIC’s name was changed to Export Credit & Guarantee Corporation Ltd in 1964.
To bring Indian identify in the name, ECGC was renamed as Export Credit Guarantee Corporation of India Ltd in the year 1983.
Q:What are Objectives of ECGC.
A:The Corporation has set before itself the following objectives:
1. To encourage and facilitate globalization of India’s trade.
2. To assist Indian exporters in managing their credit risks by providing timely information on worthiness of the buyers, bankers and the countries.
3. To protect the Indian exporters against unforeseen losses, which may arise due to failure of the buyer, bank or problems faced by the country of the buyer by providing cost effective credit insurance covers in the form of Policy, Factoring and Investment Insurance Services comparable to similar covers available to exporters in other countries.
4. To facilitate availability of adequate bank finance to the Indian exporters by providing surety insurance covers for bankers at competitive rates.
5. To achieve improved performance in terms of profitability, financial and operational efficiency indicators and achieve optimum return on investment.
6. To develop world class expertise in credit insurance among employees and ensure continuous innovation and achieve the highest customer satisfaction by delivering top quality service.
7. To educate the customers by continuous publicity and effective marketing.
Q:What are Products Of ECGC.
A:1.Export credit insurance for exporters.
2.Export credit insurance for Banks.
3.Factoring.
4.buyer"s credit cover.
5.line of credit cover.
6.transfer guarantee.
7. overseas investment insurance.
8.customer specific covers.
Q:Where its head office is located.
A: MUMBAI.
Q: How many regional office are there.
A: 5,Eastern, Northern, southern1, southern2, western.
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