- Commerce and Industry Minister has said that the ministry is in talks with banks to see ways to extend foreign currency loans to exporters.
- The minister has also said Export Credit Guarantee Corporation of India (ECGC) can play a role of credit enhancement agency for exporters.
- He has asked ECGC to come up with a robust policy on guarantee or insurance for traders and that would help bankers lend exporters at affordable rates.
- ECGC is a premier export credit agency of the Government of India to provide Export Credit Insurance Services to facilitate exports from the country.It was founded in 1957.It is headquartered at Mumbai.
- The ECGC offers credit insurance schemes to exporters to protect them against losses due to non-payment of export dues by overseas buyers due to political or commercial risks.
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