Date:10/03/2007 URL: http://www.thehindubusinessline.com/2007/03/10/stories/2007031004961000.htm

Back ECGC bags MoU award for 2005-06

Our Bureau

Mumbai March 9 State-owned Export Credit Guarantee Corporation of India Ltd (ECGC), an export credit insurance company working under the administrative control of the Ministry of Commerce and Industry, has been awarded the `MoU Award for Excellence' for the year 2005-06.

Mr A. V. Muralidharan, Chairman and Managing Director of ECGC, received the award from the Prime Minister, Dr Manmohan Singh.

ECGC has been signing MoUs for the last 10 years with the Ministry of Commerce and Industry. The MoU contains financial, dynamic, sector specific, enterprise specific and efficiency parameters. The total number of parameters for the year 2005-06 was 24.

ECGC provides insurance cover to more than 13,000 exporters for commercial risks on foreign buyers, as well as for political risks. It also provides insurance cover to more than 4,096 bank branches of 74 major banks for pre-shipment and post-shipment credit finance to exporters.