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Export Credit Guarantee Corporation of India Limited

Formerly known as the Export Credit Guarantee Corporation of India Ltd, ECGC Ltd. was set up in 1957 as a wholly owned company of the Government of India. It functions under the Ministry of Commerce & Industry and is managed by a diverse group of directors who are representatives of the Government, Reserve Bank of India, banking and insurance and exporting community.

The company is designed as an export promotion organization. It seeks to provide Indian exporters with adequate credit insurance cover.

Mission and Vision of ECGC Ltd

  1. The vision of ECGC Ltd. is to excel in providing export credit insurance and trade related services.

  2. The mission of ECGC is to support the Indian Export Industry by providing cost effective insurance and trade related services to meet the growing needs of Indian export market by optimal utilization of available resources.

Note: All information has been sourced from the official annual report and website of ECGC Ltd.

ECGC Ltd - Statistics

Mentioned below are the financial highlights of the company:

Particulars2017-182016-17
Turnover (Gross Premium)124041.71126762.49
Profit Before Finance Charges, Tax, Depreciation/ Amortization (PBITDA)13296.6441085.42
Profit before Depreciation/ Amortization (PBTDA)13296.6441085.42
Less: Depreciation318.11336.00
Net Profit Before Taxation (PBT)12978.5340749.42
Provision for Taxation5549.9812535.01
Profit/(Loss) After Taxation (PAT)7428.5528214.41
Proposed Dividend1500.007250.00
Dividend Tax308.331475.93

ECGC Company Product and Services

The two primary products provided by ECGC Ltd are Export Credit Insurance for Exporter and Export Credit Insurance for Bank.

Awards & Recognitions of ECGC Ltd.

ECGC Ltd. has been bestowed with the following awards and recognitions:

  1. First Prize for Excellence Implementation of Official Language - “Shield for Excellent Official Language Implementation” by Ministry of Commerce during 2013-14.

  2. First Prize - Indira Gandhi Rajbhasha Award” in Region “B” for excellent implementation of Rajbhasha.

  3. First Prize for Excellent Implementation of Official Language for Year 2012-13 by “Aashirwad Sansthan”.

  4. Indira Gandhi Rajbhasha Puraskar 2011-12 for excellent implementation of Official Language Policy (1st Position) amongst the offices situated in the ‘B’ region.

FAQs on ECGC Ltd

What is Buyer’s Credit Scheme?

A Buyer’s Credit Scheme finances and facilitates project exports from India, especially in the infrastructure sector. It comes under the National Export Insurance Account.

What is the role of ECGC?

The ECGC issues credit covers on behalf of NEIA Trust. Also, it receives, examines, processes and submits proposals to COD for approval.

Can a BP (ST) policy be issued to cover exports to more than one buyer?

No, a separate policy has to be obtained for every buyer.

When can the exporter file a claim under BP (ST)?

An exporter has to file a claim under BP (ST) after the loss is ascertained, but within 1 year from the due date of payment for the shipment claim.

What is the percentage of cover provided under Consignment Exports Policy?

The percentage of cover provided under Consignment Exports Policy is 90%.

What is the difference between premium paid on projected turnover and premium payable on actual turnover?

When the premium payable on the basis of the actual turnover is less than the premium paid on the basis of the projected turnover, the excess amount paid is carried forward to the next policy period.

What is the duration of policy and percentage of cover under MBEP?

The duration of policy and percentage of cover under MBEP is one year and 80%.

What is the cover available for L/c opening banks under the SBEP Policy?

The cover is available for banks with the world rank up to Rs. 25000 as per the latest Bankers Almanac.

What is the percentage of cover provided by ECGC?

Up to 90% is the percentage of cover provided by ECGC (Commercial or Political Risk).

How is the amount recovered from foreign buyer shared under ECGC?

The net of recovery expenses is shared with ECGC in the ratio in which the loss was originally shared.

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