Consider the followin statements regarding lsquo NIRVIK rsquo scheme The scheme targets to...........

Economic Affairs Foreign Trade - Trends and Policy

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Consider the followin statements regarding ‘NIRVIK’ scheme-

The scheme targets to facilitate Divyangjans and Senior Citizens.
The scheme is implemented by Ministry of Social Justice & Empowerment.

Which of the above statements is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Export Credit Guarantee Corporation of India (ECGC) has introduced ‘NIRVIK’ scheme to ease the lending process and enhance loan availability for exporters.

The scheme aims to ease the lending process and enhance loan availability for exporters.
Under the scheme,the insurance cover guaranteed will cover up to 90% of the principal and interest.The insurance cover will include both pre and post-shipment credit.

The scheme was announced by Finance Minister Nirmala Sitharaman on 14 September 2019 as a part of measures to boost exports.