Bhopal, Feb 7: Export Credit Guarantee Corporation of India Limited (ECGC) signed its 22nd Corporate Agency Agreement with Central Bank of India the other day for marketing export credit insurance products through the Bank's network. The agreement was signed by Ms HA Daruwalla, Chairperson and Managing Director of Central Bank of India, and AV Muralidharan, Chairman and Managing Director, ECGC.

Speaking on the occasion, Ms Daruwalla informed that Central Bank of India with its network of authorised branches spread all over India will be able to extend the export insurance products to its customers in addition to export credit in Rupees and in foreign currency. Exporters will be able to cover their risks associated it exports at lower cost at the Bank itself. This arrangement will result in customer convenience and increase Bank's Fee-based income.

Muralidharan stated that ECGC is the 5th largest credit insurer of the world in terms of coverage of national exports. ECGC is recognised as a specialised institution by Insurance Regulatory Development Authority (IRDA) in the field of credit insurance. For the benefit of exporters and banks, ECGC has now started issuing customised specific covers to the Banks and Exporters termed as tailor made policies. ECGC has now widened its marketing channels through Bancassurance. ECGC operates through 5 Regional Offices and 51 Branch Offices all over India to service exporters and banks. ECGC is striving to strengthen relationship and improve its delivery services to its customers.