The Export Credit Guarantee Corporation (ECGC) has signed a Memorandum of Understanding (MoU) with Tamil Nadu-based Karur Vysya Bank Ltd, to enable the ECGC to route marketing of its export credit/risk insurance products through the bank under the concept of 'bancassurance'.
Karur Vysya is the fourth bank to enter into a tie-up with ECGC, after Corporation Bank, South Indian Bank and Federal Bank.
The MoU was signed yesterday by Mr S. Prabhakaran, executive director of ECGC, and Mr P.T. Kuppuswamy, chairman of KVB, at the bank's headquarters in Karur.
The agreement enables KVB to offer ECGC export insurance cover to exports serviced by the bank's branches across the country.
ECGC is offering six different export insurance risk covers including three new additions - buyer-wise policy, turnover policy and maturity factoring - for exporters.
