New Delhi, Sep 17 (KNN) While sharing the details of Nirvik (Niryat Rin Vikas Yojna), Commerce & Industry Minister Piyush Goyal said the government expects a 30% rise in export credit disbursals by the end of 2019-20 through greater insurance coverage of exporters and easier inspection norms.

To enhance the loan availability of exporters, and moderation in premium incidence for the MSME sector, Goyal made a big announcement that Export Guarantee Corporation of India (ECGC) has launched a new scheme called ‘Nirvik’ under which up to 90% of the principal and interest will be covered under insurance.

For accounts with limits below Rs 80 crore the premium rates will be moderated to 0.60 per annum and for those exceeding Rs 80 crore, it will be 0.72 per annum for the same enhanced cover.

“For accounts with limits below Rs 80 crore, the premium rates will be moderated to 0.6% annum and for those exceeding Rs 80 crore, it will be 0.72% annum for the same enhanced cover,” commerce and industry minister Piyush Goyal said on Monday in a press conference.

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