The Nirvik scheme announced by the Union Government would give a fillip to export lending and insurance cover for export credit. The scheme aims to ease the lending
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process and enhance loanavailability for exporters.Under the scheme,the insurance cover guaranteed will cover up to 90% of the principaland interest. The insurance cover will include both pre and post-shipment credit. The enhanced cover will ensurethat Foreign and Rupee export credit interest rates will be below 4% and 8% respectively for exporters.It is launched by Export Credit Guarantee Corporation of India (ECGC).