Loans granted by a bank to an exporter popularly known as ‘Export credit’ is guaranteed, in case of default, by which of the following?

EXIM Bank

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Ministry of International Trade, GOA

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ECGC

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DICGC

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None of the above

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Solution

The correct option is C ECGC
The ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.

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Similar questions

The document containing a guarantee of a bank to honour drafts drawn on it by an exporter is

The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is

(a) Letter of hypothetication

(b) Letter of credit

(d) Bill of exchange

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