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Direct factoring facility for MSMEs by ECGC
Direct factoring facility will be offered to micro, small and medium enterprises (MSMEs) by the Export Credit Guarantee Corporation (ECGC).

According to a Hindu Business Line report, CMD of ECGC, N Shankar has said that this service will be launched in this year only.

A new country-risk rating has been introduced by the corporation for the benefit of MSMEs and ECGC would be opening three new branches in Chennai, Ahmedabad and Kollam adding to its 62 branches, according to N Shankar.

Export Credit Guarantee Corporation of India Limited (ECGC) is a company owned by Government of India. It was incorporated on July 30, 1957.

ECGC provides insurance cover with respect to risks in export trade including loss of money on account of foreign buyer becoming bankrupt or sudden import or exchange restrictions resulting in stopping of payments etc.

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