Jewellery exporters may be covered under credit insurance benefit

P N Prasad, deputy managing director of SBI, said that ECG insurance would be re-started in a month

The government is planning to re-introduce the export credit guarantee (ECG) insurance benefit scheme within a month to ease the liquidity crunch in the gems and jewellery sector.

Speaking on the sidelines of the Banking Summit 2019 in Mumbai on Wednesday, P N Prasad, deputy managing director of State Bank of India (SBI), said that ECG insurance would be re-started in a month the gems and jewellery sector.

The scheme will ensure lenders receive their claim amount in case of defaults by importers from overseas. Bank finance, currently applicable for pre- and post-shipment of goods, will be covered by the