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Journalism of Courage
The gross claims payout of the Export Credit Guarantee Corporation Ltd (ECGC) for the financial year 2017-18 has exceeded the gross premium income, owing to a sharp rise in the settlement of claims to banks. In a statement, the ECGC said it paid Rs 1,283 crore in total claims to banks and exporters in 2017-18, 45 per cent more than a year ago. The ECGC also said it has made additional provisions of Rs 6,000 crore for future payouts.
“The company’s contribution in the last decade by way of claims settlements of Rs 7,000 crore has provided support to exporters and relief to the banking system in ensuring adequate lending to exporters,” said ECGC.
It has made a profit of Rs 130 crore and given a dividend of Rs 15 crore to government.
