The ECGC Ltd. has decided to withdraw coverage for shipments to Russia with effect from February 25, which is a huge setback for exporters, industry body FIEO said.
About:
ECGC Ltd. has now put Russia in the Restricted Cover Category (RCC-I) from the earlier ‘open cover’ category. ‘Open cover’ category enables policyholders to obtain cover on a more liberalised basis.
The ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd) is a government owned export credit provider. It provides export credit insurance support to Indian exporters.
It is under the ownership of Ministry of Commerce and Industry, Government of India.
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