Export Credit Insurance Scheme

Export Credit Guarantee Corporation of India (ECGC) has introduced the Export Credit Insurance Scheme (ECIS) called NIRVIK to enhance loan availability and ease the lending process. Consider the following statements about the scheme:

  1. Under the NIRVIK, he insurance cover guaranteed will cover up to 90 percent of the principal and interest.
  2. The insurance cover will include both pre and post-shipment credit.

Choose the correct answer from the codes given below:

Only 1
Only 2
Both 1 and 2
Neither 1 nor 2