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INTRODUCTION : Export business has become very complex and highly risky. Insolvency rate is on the increase. Balance of payment difficulties have severely affected the capacity of many countries to pay the import price. In such a high risk situation, export credit insurance is very much helpful for the exporters and the banks who finance the export transactions. In this unit, you will learn various types of covers issued by ECGC and basic principles of its operation. You will also be acquainted with the procedure for making a claim and financial guarantees provided to banks.
Responsibilities of the Insured : It is the duty of the insured or his agents, in all cases, to take such measures as may be reasonable to avert or minimise a loss. Further,
Duty Drawback Credit Scheme: As an export promotional measure, the Government of India have authorised the Reserve Bank of India to instruct the commercial banks (Authorised Deale
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Running Account Facility: The RBI has permitted banks to grant packing credit advances even without lodgement of LIC or firm order /contract under the scheme of Running Account Fa
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