Export Credit Guarantee Corporation of India Ltd., (ECGC) a Government of India Enterprise finalised its bancassurance arrangement with Indian Bank.

(PRWEB) January 23, 2004 --Export Credit Guarantee Corporation of India Ltd., (ECGC) a Government of India Enterprise finalised its bancassurance arrangement with Indian Bank. The agreement was signed by Shri P M A Hakeem,IAS, Chairman & Managing Director of ECGC and Shri M B N Rao,Chairman & Managing Director of Indian Bank in the presence of Senior officials of ECGC & Indian Bank at Chennai on 22.01.2004. With this, ECGC has concluded such agreements with six banks so far.

ECGC is a pioneer organization extending credit insurance protection to the exporters against non-receipt of export proceeds for commercial and political reasons since 1957. ECGC is registered with the Insurance Regulatory and Development Authority (IRDA) since September 2002 under General Insurance -- miscellaneous.

There are five products now available under the Bancassurance for marketing by the banks.

Bancassurance is assuming greater importance in India. All the insurance companies have chosen the route to enlarge their customer base and business. Through this route, ECGC too is aiming at reaching the door steps of all the exporters for providing efficient and instant service so as to achieve its goal of increasing Indias exports.
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