What is ECGC defaulter list?

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What is ECGC defaulter list?

Information weather the Name of the Company or its Directors appear. under the Defaulters List of Reserve Bank of India or in Specific. Approval list of ECGC i.e. Export Credit Guarantee Corporation.

What is ECGC stand for?

ECGC Ltd. (Formerly known as Export Credit Guarantee Corporation of India Ltd.) wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from he country by providing credit risk insurance and related services for exports.

Which of the following risks are covered by ECGC?

ECGC – An Export Promotion Institution : Provides credit risk covers to Exporters against non payment risks of the overseas buyers / buyer’s country in respect of the exports made. Provides credit Insurance covers to banks against lending risks of exporters.

What are ECGC claims?

Export Credit Guarantee Corporation is a central government undertaking body to provide credit guarantee on the default of payments by the buyer. It works as an insurance firm who guarantees export payment, if the buyer defaults in making payment.

What is specific approval list?

15) “SPECIFIC APPROVAL LIST” (SAL for short) means the list of exporters and entities related to those exporters contained in the Notifications issued by the CORPORATION from time to time in pursuance of the Clause 6(2) above, including the names of exporting units and / or connected persons and advising Insured Banks …

Is ECGC cover mandatory?

The full form of ECGC stands for Export Credit Guarantee Corporation Limited (ECGC), it is an open cover to credit insurance & a mandatory requirement for it.

What are the functions of ECGC?

Functions of ECGC ECGC offers a series of credit risk insurance schemes for the Indian exporters against the losses incurred in the export of their goods and services. It also provides Export Credit Insurance covers to the banks and other financial institutions for enabling exporters to find better services from them.

Is ECGC mandatory?

Export credit insurance is provided by India’s ECGC. The full form of ECGC stands for Export Credit Guarantee Corporation Limited (ECGC), it is an open cover to credit insurance & a mandatory requirement for it.

Does ECGC cover political risk?

For these countries ECGC cover under short term is available for political risks for all transactions irrespective of limit on individual buyer or bank. However comprehensive cover (commercial plus political risk) is available depending on ECGC’s assessment of the credit worthiness of the buyer/bank.

What is ECGC policy?

ECGC, a Government of India enterprise established to promote Export / Import in our country, provides a range of credit risk insurance covers to exporters against loss in export of goods. South Indian Bank with more than 400 branches across 14 States will facilitate the distribution of credit policies of ECGC.

What is Sal list?

Specific Approval List (SAL) (maintained by the Corporation and circulated among all banks) contains. Calcutta High Court (Appellete Side)

What is not covered by ECGC?

ECGC does not cover those risks that are covered by the commercial insurers. Exporter can take comprehensive policy that covers both commercial and political risks. If the exporter wants, he can take only policy that covers political risks, depending on the requirements.

What is export risk insurance?

Export credit insurance protects a seller from the risk of nonpayment by a foreign buyer. The insurance usually covers commercial risks such as buyer insolvency, bankruptcy, or default.

What is EAD credit risk?

Exposure at default (EAD) is the predicted amount of loss a bank may be exposed to when a debtor defaults on a loan. Exposure at default, loss given default, and the probability of default is used to calculate the credit risk capital of financial institutions.

How can I claim ECGC?

Exporter has to fill up a proposal form and submit to nearest office of ECGC. An initial minimum lump sum premium of Rs. 10000 (Treated as Minimum premium) is to be paid which will be adjusted against premium payable on shipments declared.

What is standard policy in ECGC?

Standard Policy is the one ideally suited to cover risks in respect of goods exported on short-term credit, i.e. credit not exceeding 180 days. This policy covers both commercial and political risks from the date of shipment.

What is Sal of ECGC?

Specific Approval List (SAL) of ECGC is a it’s own in house risk mitigation mechanism developed through 60 years of it’s vast experience and expertise. ECGC provides it’s customers, Banks and Exporters User ID and Password on request. Mumbai – 400021.

What is the ECGC client portal?

Welcome to the ECGC Client Portal, the online service interface for ECGC’s customers. It provides various online services and enables exporters and bankers to seek information and submit various forms online.

What is ECGC in banking and finance competitive exams?

The ECGC or Export Credit Guarantee Corporation of India is an important topic when it comes to banking and finance competitive exams. Hence, aspirants are advised to read through the following banking awareness study notes on ECGC to get a clear-cut idea of the topic.

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