 "sri lanka")
State-owned credit insurance provider ECGC Ltd has now put India’s crisis-ridden neighbouring country–Sri Lanka in the restricted cover category-I (RCC-I).
Countries are put into the restricted cover category when political or economic conditions of a country start deteriorating, increasing the likelihood of payment delays or defaults.
The Mumbai-based company on Wednesday made changes to its underwriting policy for all transactions related to the outbound shipments to Sri Lanka. However, the premium rates for the shipments insured under the insurance covers will remain unchanged.
“After carrying out a review of the rating of Sri Lanka in view of prevailing situations, ECGC,
