The Nirvik scheme announced by the Union Government would give a fillip to export lending and insurance cover for export credit. The scheme aims to ease the lending process and enhance loanavailability for exporters.Under the scheme,the insurance cover guaranteed will cover up to 90% of the principaland interest. The insurance cover will include both pre and post-shipment credit. The enhanced cover will ensurethat Foreign and Rupee export credit interest rates will be below 4% and 8% respectively for exporters.It is launched by Export Credit Guarantee Corporation of India (ECGC).
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