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ECGC. / DICGC
Accountancy
Could any one explain to me that 4.3.1 in simple terms... Pls...
Answers (4)
ECGC/DICGC are the corporation made by the government which provides guarantee to banks against the advances given to Exporters, small industries etc. As per the RBI Norms, Banks does not require to make provision on advances to the extent it is covered by guarantee of these corporations.
Jitendra Kumar
ECGC/DICGC are the corporation made by the government which provides guarantee to banks against the advances given to Exporters, small industries etc. As per the RBI Norms, Banks does not require to make provision on advances to the extent it is covered by guarantee of these corporations.
It is for importers as well or not??
Thread Starter
Balachandar SIt is for importers as well or not??
Yes, based on specific area of these corporations. For example ECGC promote exports also offers protection against non payment by an importers.