BANKING GENERAL KNOWLEDGE
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Question
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Guarantee
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General
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Government
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Grameen
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Detailed explanation-1: -ECGC is essentially an export promotion organisation, seeking to improve the competitiveness of the Indian exports by providing them with credit insurance covers. ECGC Ltd. also administers the National Export Insurance Account (NEIA) Trust which caters to project exports of strategic and national importance.
Detailed explanation-2: -PREMIUM TO ECGC. Premium is payable on a monthly basis at the rate of 8.5 paisa per Rs. 100/ per month on the average daily product irrespective of the credit rating of the accounts.
Detailed explanation-3: -ECGC Limited, formerly known as Export Credit Guarantee Corporation of India was founded on the 30th of July, 1957. It is one of the oldest initiatives of the Government of India.
Detailed explanation-4: -It is under the ownership of Ministry of Commerce and Industry, Government of India, and is headquartered in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and banks.