Claim settlement for ECGC down 21% at Rs 885 cr in FY17

Company reports net profit of Rs 282 cr

ECGC, the central government-owned export credit agency, reported a 21 per cent decline in claim 

settlements at Rs 885 crore in 2016-2017, from the Rs 1,123 crore settled the previous year.

Claims from public sector banks, the biggest chunk of business, had reduced as they’d cut on export credit in the year. ECGC paid Rs 679 crore in FY17 to lending banks. 

Premium income fell four per cent to Rs 1,268 crore from FY16. In its 60th year of operation, it saw its business grow from Rs 1.35 lakh crore in 2015-16 to Rs 1.41 lakh crore. Net profit saw a