Current context: The Ministry of Commerce & Industry has introduced a new Export Credit Insurance Scheme (ECIS) called NIRVIK.
a. Import of Gold
b. Insurance coverage on Exports
c. Minimum Export Price
d. Domestic Consumption
![NIRVIK Launched Scheme NIRVIK Launched Scheme](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjn3dd9Ld0eqe7mJ1pjxXUw7rlqxrdt81yEjpSbl8gov9Z7vbLox4j-EbdrP2GcsSl8LPLDwZMycDeReMlBW5puza59nCvtHme71BVRFyJeD8uNV5YGNH_BnepuUAA28M5n4vlOFVLO1-yd/s320-rw/Imagesmao1561988871297.jpg)
- 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