The correct answer is (d), Export Credit and Guarantee Corporation (ECGC). ECGC is a government-owned corporation that provides insurance and guarantees to exporters against various risks, such as commercial and political risks. It was established in 1957 with the objective of promoting exports from India.
The Reserve Bank of India (RBI) is the central bank of India. It is responsible for formulating and implementing monetary policy, regulating the banking system, and issuing currency.
The State Trading Corporation of India (STCI) is a state-owned trading corporation that imports and exports goods on behalf of the government of India.
The EXIM Bank of India is a state-owned development bank that provides financial assistance to exporters and importers.
Here is a brief description of each option:
- (a) Reserve Bank of India (RBI): The RBI is the central bank of India. It is responsible for formulating and implementing monetary policy, regulating the banking system, and issuing currency. The RBI does not provide insurance against various risks to the exporters.
- (b) State Trading Corporation of India (STCI): The STCI is a state-owned trading corporation that imports and exports goods on behalf of the government of India. The STCI does not provide insurance against various risks to the exporters.
- (c) EXIM Bank of India: The EXIM Bank of India is a state-owned development bank that provides financial assistance to exporters and importers. The EXIM Bank of India does not provide insurance against various risks to the exporters.
- (d) Export Credit and Guarantee Corporation (ECGC): The ECGC is a government-owned corporation that provides insurance and guarantees to exporters against various risks, such as commercial and political risks. The ECGC is the only organization in India that provides insurance against various risks to the exporters.