Correct option is B
The correct answer is: (b) ₹50 crore
In July 2023, the Export Credit Guarantee Corporation of India (ECGC) announced the expansion of its Export Credit Insurance for Banks (ECIB) scheme.Under this scheme, exporters with credit limits up to ₹50 crore are eligible for 90% insurance cover.This move aimed to support approximately 3,000 exporter-borrower accounts and was expected to benefit exporters by reducing interest rates on loans.
The enhanced cover is part of ECGC's efforts to provide greater financial security to exporters, thereby encouraging them to explore new markets and expand their businesses.
Previous Coverage:Before this expansion, the ECGC provided 90% insurance cover only for exporters with credit limits up to ₹20 crore.
Implementation:The expanded coverage came into effect on July 1, 2023.
Eligible Banks:The scheme was extended to several banks, including the State Bank of India, Central Bank of India, Bank of Maharashtra, and Saraswat Bank.
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