News

Banks should ensure affordable credit to MSMEs to achieve $1 trillion merchandise exports: Piyush Goyal Commerce & Industry Minister Piyush Goyal has asked the Indian banks to ensure enhanced and affordable credit to MSMEs to achieve the target of 1 trillion dollar merchandise exports, in a meeting with bankers on export credit to MSME exporters. Based on Export Credit Guarantee Corporation’s (ECGC) experience under the scheme of enhanced cover, ECGC has now proposed further modifications to make available adequate and affordable credit to a larger section of MSME exporters. The produ...
Banks should ensure affordable credit to MSMEs to achieve $1 trillion merchandise exports: Piyush Goyal
Banks should ensure affordable credit to MSMEs to achieve $1 trillion merchandise exports: Piyush Goyal
Source: Accord Fintech
30/06/2023 3:10:13 PM
Ensure affordable credit to MSMEs to achieve $1 tn merchandise exports target: Piyush Goyal   Commerce Minister Piyush Goyal has asked banks to ensure enhanced and affordable credit to MSMEs to achieve the target of $1 trillion merchandise exports by 2030. He gave these directions during a meeting called recently to discuss the issue of increasing the availability of export credit to the MSME exporters. The meeting was attended by top officials of 21 banks including the State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India, Bank of In...
Ensure affordable credit to MSMEs to achieve $1 tn merchandise exports target: Piyush Goyal
Ensure affordable credit to MSMEs to achieve $1 tn merchandise exports target: Piyush Goyal
Source: IANS
30/06/2023 10:54:38 AM
ECGC supports over 16,000 exporters with aggregate value of business covered to tune of Rs 6.68 lakh crore in FY23: Goyal Commerce and Industry Minister Piyush Goyal has said that the Export Credit Guarantee Corporation (ECGC) has supported over 16,000 exporters with an aggregate value of business covered to the tune of Rs 6.68 lakh crore in 2022-23 and it is expected to increase to more than Rs 10 lakh crore this fiscal. The ECGC, wholly owned by the Government of India, was set up in 1957 with the objective of promoting exports from the country by providing credit risk insurance and related services.  ...
ECGC supports over 16,000 exporters with aggregate value of business covered to tune of Rs 6.68 lakh crore in FY23: Goyal
ECGC supports over 16,000 exporters with aggregate value of business covered to tune of Rs 6.68 lakh crore in FY23: Goyal
Source: Accord Fintech
26/06/2023 12:32:15 PM
Non-Life Insurance to Grow at 13-15%; Health to Cross Rs. 1 Lakh cr in FY24 Synopsis • The domestic non-insurance industry’s total premium grew from Rs. 1.3 lakh crore in FY17 to over Rs. 2.2 lakh crore in FY22 i.e., CAGR of nearly 11.5% driven by rising income level, better product fit, strong distribution channels and rising financial literacy. • Underwriting losses are expected to improve as the loss ratio is expected to stabilise and expenses of management remain range bound. The brokers would continue to be the largest distribution channel ...
Non-Life Insurance to Grow at 13-15%; Health to Cross Rs. 1 Lakh cr in FY24
Non-Life Insurance to Grow at 13-15%; Health to Cross Rs. 1 Lakh cr in FY24
Source: PR Agency
6/01/2023 12:06:10 PM
ECGC to get Rs 4,400 cr capital infusion over 5 year period The Centre on Wednesday approved capital infusion of Rs 4,400 crore to the ECGC, formerly known as the Export Credit Guarantee Corporation of India, over a period of five years. The investments will be made from FY2021-2022 to FY2025-2026. Besides, the approved infusion, along with the company's listing process through the Initial Public Offering (IPO), is expected to increase the underwriting capacity of the ECGC to support more exports. "Currently the maximum liability tha...
ECGC to get Rs 4,400 cr capital infusion over 5 year period
ECGC to get Rs 4,400 cr capital infusion over 5 year period
Source: IANS
29/09/2021 5:38:28 PM
Government to infuse equity in ECGC to boost export insurance cover In a bid to support the exporters, the Finance Ministry has announced to infuse equity into the Export Credit Guarantee Corporation (ECGC) over a period of five years to boost export insurance cover by Rs 88,000 crore. ECGC promotes exports by providing credit insurance services. Its products support around 30 per cent of India's merchandise exports. Addressing the media on Monday, Finance Minister Nirmala Sitharaman also announced a Rs 33,000 crore boost for project exports through...
Government to infuse equity in ECGC to boost export insurance cover
Government to infuse equity in ECGC to boost export insurance cover
Source: IANS
28/06/2021 5:52:00 PM