The Export Credit Guarantee Corporation (ECGC), which offers credit insurance protection to exporters has entered into a bancassurance agreement with Allahabad Bank. The bancassurance arrangement will see Allahabad Bank selling a host of ECGC's products through its select branches. These will include a standard policy, small exporter policy, specific shipment policy, export-specific buyer-wise policy and export turnover policy.
“This agreement will formalise a long lasting relationship with banks which already exists” said P M A Hakeem, chairman and managing director of ECGC.
ECGC, which has an arrangement with six other banks, will also be entering into an agreement with Punjab National Bank (PNB) shortly.
