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ECGC stands for : Export Credit Guarantee Corporation (of India). very good to know about them, thank you.
Export Credit Guarantee Corporation of India Ltd. ( ECGC ) is a Government of India Enterprise which provides export credit insurance facilities to exporters and banks in India. It functions under the administrative control of Ministry of Commerce & Industry, and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking , insurance and exporting community. Over the years, it has evolved various export credit risk insurance products to suit the requirements of Indian exporters and commercial banks. ECGC is the seventh largest credit insurer of the world in terms of coverage of national exports. The present paid up capital of the Company is Rs.1000 Crores and the authorized capital is Rs.1000 Crores.
ECGC is essentially an export promotion organization, seeking to improve the competitive capacity of Indian exporters by giving them credit insurance covers comparable to those available to their competitors from most other countries. It keeps it's premium rates at the lowest level possible.
"Export Credit Guarantee Corporation of India Ltd".
Well explained by Mr.Georgei Assi
I hereby support the best answer given by Mr. Georgei Assi.
Export credit Guarantee corporation which provide export credit insurance facilities
Same like credit rating, just the loans are given for exports.
export credit guarantee corporation of India has entered into an alliance with theofinance pic, uk to help companies, involved in exports, to reduce the time of payment for their goods and services. with its global presence and highly secure information technology-link, theofinance will accelerate invoice payment from three to ten days.
Export Credit Guarantee Corporation of India is a central government undertaking body to provide credit guarantee on the default of payments by the buyer.The ECGC Limited (ECGC) was established on30 July1957 with an objective to provide insurance cover in respect of risks in export trade.
Export Credit Guarantee Corporation. George Assi has the most relevant answer. Thank for adding to my knowledge.
Agree with answers of Mr.Aassi and Mr. Walf