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Export Credit Guarantee Corporation of India Ltd: As we know payments for exports are exposed to risks even at the best of times. The risks have assumed on the large scale today due to the far-reaching political and economic changes that are occurring around the world. The ECGC Limited is a company completely owned by the Government of India and controlled by the Ministry of Commerce which provides export credit insurance support to Indian exporters. The organization also recruit new individuals every year in order to train them and keep aware of new trends in the insurance market. So now we are going to see about the Export Credit Guarantee Corporation of India Ltd and its Balance Sheet, Management, Offices, Products, Services, Dividend Information, and News.
Export Credit Guarantee Corporation of India Limited – Overview
The Export Credit Guarantee Corporation of India has been set up by the national government in order to provide banks and exporters in the country many export credit insurance programs. It is administratively controlled by the Ministry of Commerce & Industry. Board of Directors that is made up of representatives from the export, insurance and banking industries in India apart from the national government and the Reserve Bank of India is the responsible for the management of an Export Credit Guarantee Corporation of India. Since its beginning, the organization has come up with many export credit risk insurance programs in order to satisfy the requirements of commercial banks and exporters in India. The similar products offered in the international markets as well.
Presently, Export Credit Guarantee Corporation occupies the seventh spot in the world with regards to coverage for national exports. Its paid-up capital is INR 900 crores with an authorized capital of worth INR 1000 crores. The organization was established on 30th July 1957 as the Export Risk Insurance Corporation and renamed to its present name in 1983. It has received the First Prize for exceptional execution of Rajbhasha for the year 2011-12 from the Mumbai Town Official Language Implementation Committee.
Export Credit Guarantee Corporation of India Balance Sheet
Various financial highlights of the Export Credit Guarantee Corporation has been represented in the following table given below:
Domain | Figures in INR |
Gross premium | 1004.83 crores |
Premium | 766.25 crores |
Total claims paid | 713.03 crores |
Incurred claim | 679.61 crores |
Investments and other income | 359.91 crores |
Net worth | 2167.75 crores |
Income from operations | 962.19 crores |
Operating profit | 166.95 crores |
Profit before tax | 327.73 crores |
Profit after tax | 225.21 crores |
Export Credit Guarantee Corporation of India Management
Here is the list of the Board of Directors at the Export Credit Guarantee Corporation:
Name | Designation |
N Shankar | Managing Director and Chairman |
Arvind Mehta | Joint Secretary, Department of Commerce, Ministry of Commerce and Industry |
Alok Sheel | Joint Secretary, Department of Economic Affairs, Ministry of Finance |
VS Das | Executive Director, Reserve Bank of India |
TCA Ranganathan | Managing Director and Chairman, EXIM Bank of India |
KR Kamath | Managing Director and Chairman, Punjab National Bank, New Delhi |
AK Roy | Managing Director and Chairman, General Insurance Corporation of India (GIC), Mumbai |
Hari S Bhartia | Managing Director and Co-Chairman, Jubilant Life Sciences Ltd., New Delhi |
M Rafeeque Ahmed | President, FIEO, New Delhi |
Vasant Mehta | V Rameshchandra & Company, Mumbai |
Apart from N Shankar, the team of senior executives in this organization is listed below:
Name | Designation |
Geeta Muralidhar | Executive Director |
V Ramachandran | General Manager |
Sandeep Mukherjee | General Manager |
Manoj Kumar | General Manager |
R Padmavathy | General Manager |
M Sentilnathan | General Manager |
Export Credit Guarantee Corporation of India Offices
Export Credit Guarantee Corporation has its regional offices at Mumbai, New Delhi, Bengaluru, Chennai, and Kolkata. The branch offices of the Export Credit Guarantee Corporation are divided into five zones named as Northern Region, Eastern Region, Southern Region I, Southern Region II and Western Region. Eastern Region has five offices in cities like Guwahati and Bhubaneshwar apart from Kolkata. The organization has an office in every major city of Northern Region such as Agra, Chandigarh, and New Delhi. Cities like Chennai, Coimbatore, and Karur are covered in the Southern Region I, where Southern Region II has some of the main offices at Bangalore, Guntur, and Hyderabad. Most of the office’s location of Western Region are in Mumbai. Apart from that, there are many offices of the organization in leading cities like Ahmedabad and Indore.
ECGC of India Products and Services
The products and services of the Export Credit Guarantee Corporation are available under three heads viz Export Credit Insurance for Banks, Export Credit Insurance for Exporter and Special Schemes. They are deeply explained as below:
Export Credit Insurance for Exporter
Short Term – (ECIE-ST)
- Shipment Comprehensive Risk Policy (SCR)
- Export Turnover Policy (ETP)
- Small Exporter Policy (SEC)
- Export Specific Buyer Policy (BWP)
- Specific Shipment Policy (SSP)
- Consignment Exports Policy (CEP)
- Services Policy (SRC)
- Buyer Exposure Policy (BEP)
- Small & Medium Enterprise (SME)
- IT-Enabled Services Policy (ITES)
- Software Project Policy (SPP)
Medium and Long Term (ECIE-MLT)
- Construction Works Policy – (CWP)
- Specific Services Policy – (SRC)
- Specific Policy for Supply Contract
- Specific Services Contract Policy – (SCP)
- Specific Shipment Policy – (SSP)
- Letter of Credit Confirmation Cover
Export Credit Insurance for Banks
Short Term (ECIB-ST)
- Individual Packing Credit – (INPC)
- Whole Turnover Packing Credit – (WTPC)
- Branch Wise Packing Credit – (BIPC)
- Individual Post Shipment – (INPS)
- ECIB_INPS (With Exclusion)
- ECIB_INPS (Not Holding Standard Policy)
- ECIB_INPS (Without Exclusion)
- ECIB_INPS (Excluding Cover for Shipments Made Against LC)
- Export Finance (EF)
- Whole Turnover Post Shipment – (WTPS)
- Individual Export Performance (IN-EP)
- Individual Export Performance (ECIB-EPAP)
- Individual Export Performance (ECIB-EPLC)
2. Whole Turnover Export Performance (WT-EP)
Medium and Long Term (ECIB-MLT)
- Individual Packing Credit – (INPC)
- Export Finance [Overseas Lending] (EF-OL)
- Individual Post Shipment – (INPS)
- ECIB_Cash Flow Deficit Financing
- Export Performance (EP)
Special Schemes
- Buyer’s Credit Cover
- Overseas Investment Insurance
- Lines of Credit Cover
- Customer Specific Covers
- Transfer Guarantee (TG)
Export Credit Guarantee Corporation of India Limited Dividend Information
The Board of Directors at the Export Credit Guarantee Corporation have announced a final dividend of 3 rupees for each equity share for the 2011-12 fiscal. This is also applicable for all the 9 crore equity shares that are worth INR 100 each. It is expected that not only the total dividend combined with the dividend distribution tax will be equivalent to INR 62.76 crores but also the payout ratio will be 27.87% of the net profit as well.
Export Credit Guarantee Corporation of India Ltd News
The Export Credit Guarantee Corporation has inaugurated its Faridabad branch on 03rd August for providing more efficient services for the banks and exporters in the city. The organization also expected to promote exports in the National Capital Region by this move.
We hope that this article will not only help you to get information about the Export Credit Guarantee Corporation of India Ltd but also gives you a guideline in order to prepare for the building your career in the insurance market. For more Jobs related articles, keep visiting www.gvtjob.com.
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