Current Affairs

NIRVIK Launched Scheme

Current context: The Ministry of Commerce & Industry has introduced a new Export Credit Insurance Scheme (ECIS) called NIRVIK.
NIRVIK Launched Scheme 
  • The Export Credit Guarantee Corporation (ECGC) under the ministry has introduced the scheme with the aim to ease the lending process and enhance loan availability for exporters.
  • The scheme will ensure guaranteed insurance cover up to 90% of the principal and interest including the pre and post-shipment loss.
  • The present coverage is provided up to 60% of the loss by the current Export Credit Guarantee Corporation of India (ECGC).
  • The initiative would make the ECGC more exporter friendly and also make Indian exports more competitive.
  • ECGC facilitate exports from India and is a premier export credit agency of the Government of India, headquartered at Mumbai and is in establishment since 1957.

Question: 

Q.1 The Government of India’s Scheme NIRVIK is concerned with?
a. Import of Gold
b. Insurance coverage on Exports
c. Minimum Export Price
d. Domestic Consumption
NIRVIK Launched Scheme NIRVIK Launched Scheme Reviewed by Neha Verma on September 19, 2019 Rating: 5

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