Government sets up panel on working of EXIM Bank, ECGC

By: |
New Delhi | Published: September 6, 2016 11:21:07 PM

Government has set up a ten-member committee to examine issues related to effective functioning of Export Import Bank and Export Credit Guarantee Corporation.

The terms of reference of the committee also include examining issues related to enhancing the role of ECGC by addressing regulatory constraints and suggest separate norms and policy guidelines for EXIM Bank and ECGC. (Reuters)The terms of reference of the committee also include examining issues related to enhancing the role of ECGC by addressing regulatory constraints and suggest separate norms and policy guidelines for EXIM Bank and ECGC. (Reuters)

Government has set up a ten-member committee to examine issues related to effective functioning of Export Import Bank and Export Credit Guarantee Corporation (ECGC).

The committee, headed by the Finance Secretary, would recommend ways to strengthen functioning of these two organisations.

It will examine need for capital infusion, addressing regulatory constraints with respect to the EXIM Bank and ECGC.

The committee would submit its recommendations within six weeks from the date of holding its first meeting, the Commerce and Industry Ministry said in a series of tweets.

“The idea is to look at ways in which EXIM Bank and ECGC can be further strengthened to support and handhold our exporters,” it said.

The terms of reference of the committee also include examining issues related to enhancing the role of ECGC by addressing regulatory constraints and suggest separate norms and policy guidelines for Export Import (EXIM) Bank and ECGC.

ECGC is an export promotion organisation, seeking to improve the competitiveness of Indian exporters by providing them with credit insurance covers.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1India will soon be zero petroleum import country: Nitin Gadkari
2Service tax should be shared with railways: Parliamentary panel
3Urjit Patel’s ‘handover’ at RBI is low key, unlike other governors