As a government-owned entity, ECGC aims to promote exports from India and protect exporters from the risks associated with exporting goods and services to foreign markets.
Introduction to the ECGC
The Export Credit Guarantee Corporation of India (ECGC PO) plays a crucial role in facilitating international trade by providing export credit insurance and other related services to exporters and banks. As a government-owned entity, ECGC aims to promote exports from India and protect exporters from the risks associated with exporting goods and services to foreign markets.
In this comprehensive guide, we will explore the functions of ECGC PO, its role in assisting exporters, and answer some frequently asked questions about this vital institution.
What Does an ECGC Do?
The primary function of ECGC is to offer export credit insurance to exporters and banks. Export credit insurance protects exporters from the risk of non-payment by foreign buyers due to commercial or political reasons. ECGC provides insurance cover on the outstanding export credit, which ensures that exporters are compensated in case of buyer defaults. This risk mitigation mechanism encourages exporters to explore new markets and extend credit terms to buyers with confidence.
Role and Functions of the ECGC PO
- Promotes and supports exports from India.
- Provides credit insurance to exporters.
- Offers various types of export credit insurance policies.
- Facilitates access to bank guarantees and financial assistance for exporters.
- Assists exporters in market research and identifying export opportunities.
- Provides guidance on export-related documentation, procedures, and regulations.
- Conducts training programs and workshops for exporters.
- Supports small and medium-sized enterprises (SMEs) with specialized insurance products.
- Facilitates smooth and secure export transactions.
- Contributes to the overall growth of India’s economy through export-led development.
How Does ECGC PO Help the Exporters?
- Risk Protection: ECGC protects exporters from the risks of buyer defaults, insolvency, and political risks in the importing country. This allows exporters to focus on expanding their business without worrying about payment uncertainties.
- Enhanced Credit Access: With ECGC’s export credit insurance, banks are more willing to finance export transactions. This improves exporters’ access to credit facilities, which is crucial for their working capital needs.
- Market Diversification: ECGC’s risk cover encourages exporters to venture into new and challenging markets with potential for growth. It facilitates diversification of export destinations, reducing dependency on specific markets.
- Timely Payment: In case of non-payment by the foreign buyer, ECGC ensures that exporters receive compensation for their outstanding dues, reducing cash flow issues and financial distress.
- Information Services: ECGC provides exporters with valuable market intelligence and credit reports on potential buyers, helping them make informed decisions about extending credit to foreign customers.
ECGC Schemes
Comprehensive cover:
Provides insurance protection for both short-term and long-term exports.
Specific cover:
Offers coverage for individual buyers to mitigate the risk of non-payment.
Exchange Fluctuation Risk Cover:
Protects against losses due to adverse exchange rate fluctuations.
Exporter’s Retention Cover:
Provides insurance for a portion of the credit extended by the exporter to the buyer.
Small Exporters Policy:
Specifically designed for small exporters to support their export activities.
Export Production Finance Guarantee:
Enables exporters to obtain working capital loans from banks.
Exporters’ Credit Insurance Policy:
Covers credit extended by banks to exporters.
Overseas Investment Insurance:
Protects investments made by Indian companies in joint ventures or subsidiaries abroad.
Export Credit Insurance for Project Exports:
Provides coverage for project exports undertaken by Indian companies.
Buyer’s Credit Insurance:
Offers coverage for loans extended by Indian banks to overseas buyers for purchasing Indian goods and services.
Functions OF ECGC
- Promotion and support of exports from India.
- Provision of credit insurance to exporters.
- Offering various types of export credit insurance policies.
- Facilitating access to bank guarantees and financial assistance for exporters.
- Assisting exporters in market research and identifying export opportunities.
- Providing guidance on export-related documentation, procedures, and regulations.
- Conducting training programs and workshops for exporters.
- Supporting small and medium-sized enterprises (SMEs) with specialised insurance products.
- Ensuring smooth and secure export transactions.
- Contributing to the overall growth of India’s economy through export-led development.
Products and Services Offered by the ECGC
- Export Credit Insurance
- Specific Cover for individual buyers
- Export Production Finance Guarantee
- Exporters’ Credit Insurance
- Small Exporters Policy
- Exchange Fluctuation Risk Cover
- Overseas Investment Insurance
- Export Credit Insurance for Project Exports
- Buyer’s Credit Insurance
- Training and Advisory Services
Eligibility and Criteria for ECGC PO 2023 Coverage
ECGC PO 2023 Notification – Educational Qualification
| SI.No. | Discipline | Minimum Educational Qualification | Tentative Number of Posts |
| 1 | Accounts (CA) | Associate member of Institute of Chartered Accountants of India (CA), Institute of Cost & Works Accountants of India (ICWA), Chartered Financial Analyst (CFA) | 1 |
| 2 | Legal | Bachelor of Law (LLB) from a recognised Indian University/Institution | 4 |
| 3 | Company Secretary | CS qualified with ACS membership of Institute of Company Secretaries of India (ICSI) | 1 |
| 4 | Actuary | Student member of the Institute of Actuaries of India who has cleared at least 3 papers including CM1, CS1 and CS2 or its previous equivalents | 2 |
| 5 | IT | B Tech or BE in Computer Science / Information Technology or MCA with certificate course on Cyber Security of the duration of at least 6 months | 2 |
| 6 | IT/CISO | B Tech or BE in Computer Science / Information Technology/Computer engineering/ Electronics & Instrumentation & ME/MTech/MS in Computer Science/ Information Technology/Information Security/Cyber Security. Preference would be given to those who have core specialisation in Cyber Security at PG level or certifications of CISSP/CISM/CompTIA CySA+/GSEC/OSCP | 1 |
| 7 | Country Underwriting/Research | Master’s Degree in Statistics/Mathematical Statistics/Mathematical Economics/Econometrics/Statistics & Informatics from a recognised University | 1 |
| 8 | Rajbhasha/Hindi | (i) Master’s degree in Hindi /Hindi Translation, with English as core/Elective/Major subject at the Bachelor’s Degree level; OR (ii) Master’s degree in English with Hindi as core/elective/major subject at the bachelor’s degree level; OR (iii) Master’s degree in any discipline with English and Hindi as core/elective/major subjects at the bachelor’s degree level; OR (iv) Master’s degree in both English and Hindi/Hindi translation | 4 |
| 9 | Data Science | Master’s Degree in Data Science | 1 |
ECGC PO 2023 Notification – Age Limit
| Minimum Age Limit | Maximum Age Limit |
| 21 years | 30 years |
ECGC PO 2023 Notification – Relaxation of Upper Age Limit
| Category | Age Relaxation (Years) |
| Scheduled Caste/Scheduled Tribe | 5 years |
| Other Backward Classes (Non–Creamy Layer) | 3 years |
| Persons with Benchmark Disabilities | 10 years |
| Ex-Servicemen | 5 years |
Note: The age relaxation is subject to eligibility criteria as per “The Rights of Persons with Disabilities Act, 2016” and specific conditions mentioned in the notification.
ECGC PO 2023 Notification
It is for Probationary Officers in the Specialist Cadre with various backgrounds such as CA, CS, Legal Officer, Rajbhasa, Actuarial, Statistics/Math/Economics, Data Science, IT, and Cyber Security. The notification has been published on the official website https://www.ecgc.in/. The deadline to submit the online application for ECGC PO 2023 is May 31, 2023. The detailed notification provides information about important dates, job openings, eligibility criteria, selection process, exam format, and more.
ECGC PO 2023 Apply Online
Candidates who meet the requirements as stated in the ECGC PO Notification may apply online for ECGC PO positions beginning on May 2, 2023. Before the deadline, which is July 15, 2023, qualified applicants must submit their ECGC PO 2023 Online Application Form.
ECGC PO 2023 Application Fee
The application fees for the ECGC PO 2023 recruitment vary based on the category of the applicants. For General category candidates, the application fee is Rs. 850, while for candidates belonging to SC/ST/PwBD category, the fee is Rs. 175. It is important for applicants to note these fees and make the payment accordingly while submitting their online application for the ECGC PO 2023.
ECGC PO Salary
| ECGC PO Salary 2023 | |
| Pay Scale | ₹ 53600-2645(14)-90630-2865(4)-102090 |
| Basic Pay | ₹ 53600 |
| Basic Pay after 14 years | ₹ 90,630 |
| Maximum Basic Pay | ₹ 1,02,090 |
| Total CTC (Mumbai) | 16 Lakhs per annum |
ECGC PO 2023 Syllabus
| Reasoning | – Data Interpretation |
| – Blood Relations | |
| – Syllogism | |
| – Coding-Decoding | |
| – Directions | |
| – Non-Verbal Series | |
| – Clocks & Calendars | |
| – Number Ranking | |
| – Decision Making | |
| – Analogy | |
| – Statements & Arguments | |
| – Arithmetical Reasoning | |
| – Alphabet Series | |
| – Seating Arrangement | |
| – Puzzles | |
| English Language | – Reading Comprehension |
| – Fillers | |
| – Cloze test | |
| – Jumbled Paragraph | |
| – Tenses | |
| – Adjectives | |
| – Adverbs | |
| – Prepositions | |
| – Sentence Completion | |
| – Paragraph Completion | |
| – Antonym and synonym | |
| – Grammatical Error based questions | |
| – One word substitution | |
| Quantitative Aptitude | – Simplification |
| – Ratio and Proportion | |
| – Problems with H.C.F and L.C.M. | |
| – Banker’s Discount | |
| – Partnership | |
| – Decimal Fraction | |
| – Pipes and Cistern | |
| – Problems on Ages | |
| – Time and Distance | |
| – Logarithm | |
| – Allegation or Mixture | |
| – Probability | |
| – Average | |
| – Chain Rule | |
| – Compound Interest | |
| – Surds and Indices | |
| – Height and Distance | |
| – Boats and Streams | |
| – Area | |
| – Time and Work | |
| – Square Root and Cube Root | |
| – Simple Interest | |
| – Numbers | |
| – Permutation and Combination | |
| – Volume and Surface Area | |
| Computer Knowledge | – Basics of Hardware and Software |
| – Windows Operating System | |
| – Internet Terms and Services | |
| – MS Office (Word, Excel, PowerPoint) | |
| – History of Computers | |
| – Networking and Communication | |
| – Database Basics | |
| – Basics of Hacking, Security Tools, and Viruses | |
| – Basic Internet Knowledge and Protocol | |
| – Memory and Storage Device | |
| – Computer Shortcuts Key | |
| General Awareness | – Current Affairs of the last six months |
| – Current news with special emphasis on the schemes of ECGC | |
| – History of ECGC | |
| – Major banking terms related to ECGC | |
| – Budget 2021 | |
| – Major government schemes introduced by ECGC |
ECGC PO Exam Pattern 2023
| Section | No. of Questions | Maximum Marks | Time Duration |
| Reasoning Ability | 40 | 40 | 30 minutes |
| English Language | 40 | 40 | 20 minutes |
| General Awareness | 30 | 30 | 10 minutes |
| Quantitative Aptitude | 40 | 40 | 40 minutes |
| Professional Knowledge | 50 | 50 | 40 minutes |
| Total | 200 | 200 | 140 minutes |
ECGC PO Descriptive Exam Pattern 2023
| Section | No. of Questions | Marks | Time allotted |
| Essay Writing | One out of two options | 20 | 40 minutes |
| Precis Writing | One out of two options | 20 | 40 minutes |
Note: The objective exam is followed by the descriptive paper, where candidates will have to write essays and precis as per the given options.
ECGC PO Vacancy 2023
| Category | Vacancies |
| SC | 02 |
| ST | 02 |
| OBC | 05 |
| EWS | 02 |
| UR | 06 |
| Total | 17 |
ECGC PO Recruitment 2023
| ECGC PO 2023- Important Dates | |
| Events | Dates |
| ECGC PO 2023 Notice | 31st March 2023 |
| ECGC PO 2023 Notification Release Date | 19th April 2023 |
| ECGC PO Apply Online Starts | 02nd May 2023 |
| ECGC PO Apply Online Last Date | 31st May 2023 |
| ECGC PO 2023 Payment of Application Fee | 15th June 2023 |
| ECGC PO PET Call Letter | 07th June 2023 |
| ECGC PO Pre Exam Training Dates | 3rd week of June 2023 |
| ECGC PO Admit Card 2023 | 2nd week of June 2023 |
| ECGC PO Exam Date 2023 | 15th July 2023 |
| ECGC PO Result 2023 | August 2023 |
| ECGC PO 2023 Interview | August/September 2023 |
| ECGC PO 2023 Final Result | — |
Documents Required to Fill ECGC PO 2023 Form
- Passport-sized photograph
- Scanned copy of signature
- Valid identity proof (Aadhaar card, PAN card, driving license, passport)
- Valid address proof (Aadhaar card, passport, utility bill, bank statement)
- Scanned copies of educational certificates and mark sheets
- Category certificate (SC/ST/OBC/EWS) if applicable
- Experience certificates (if applicable)
- Disability certificate (if applicable)
- No Objection Certificate (NOC) from the employer (if applicable)
- Any other relevant documents as mentioned in the official notification or application form.
ECGC PO 2023 Selection Process
The following stages will be used to choose candidates for the Probationary Officer position through the ECGC PO Recruitment 2023:
- Interview
- Online test (descriptive and objective)
The candidates who pass the exam will receive an invitation to the next stage of the selection process, which is the interview. The weighted average for the online test and the interview will be 80:20. To be chosen, an applicant must pass both requirements.
ECGC PO Result
The result will be declared by the Export Credit Guarantee Corporation on its official website. The result will be based on the performance of candidates in the PO examination and other stages of the selection process. Candidates can check their results by visiting the official website and accessing the result notification or merit list. The result will indicate whether a candidate has qualified for the next stage of the selection process or has been selected for the Probationary Officer position. This year’s results will be announced in August 2023.
ECGC PO Exam Centres 2023
Candidates are advised to review the list of exam centres before indicating their preferences. It is recommended that candidates choose an exam centre closest to their location to minimise any travel difficulties. Additionally, candidates are encouraged to submit their preferences as early as possible as centres are allocated on a first-come-first-serve basis.
Here is a list of the state-wise exam centres available:
- Andhra Pradesh: Visakhapatnam
- Assam: Guwahati
- Bihar: Patna
- Chhattisgarh: Raipur
- Delhi NCR: Delhi
- Gujarat: Ahmedabad
- Haryana: Chandigarh
- Jharkhand: Ranchi
- Karnataka: Bengaluru
- Kerala: Kochi
- Madhya Pradesh: Indore
- Maharashtra: Pune, Mumbai, and Nagpur
- Odisha: Bhubaneshwar
- Rajasthan: Jaipur
- Tamil Nadu: Chennai and Coimbatore
- Telangana: Hyderabad
- Uttar Pradesh: Varanasi and Kanpur
- West Bengal: Kolkata
ECGC Claims and Recovery Process
- It plays a crucial role in facilitating international trade by providing credit insurance to exporters.
- In case of non-payment by the overseas buyer, exporters can file a claim with Export Credit Guarantee Corporation for the loss incurred.
- It evaluates the claim and verifies the authenticity of the loss, ensuring it falls within the policy coverage.
- Upon approval, it initiates the recovery process by coordinating with the overseas buyer for payment settlement.
- Export Credit Guarantee Corporation employs various recovery methods, including negotiation, legal actions, and arbitration, to recover the outstanding dues.
- The recovered amount is then disbursed to the exporter, helping mitigate the financial impact of the loss.
Role of ECGC in International Trade
- It plays a crucial role in promoting and supporting exports from India.
- It provides credit insurance to exporters, protecting them against the risk of non-payment by overseas buyers.
- By offering various types of export credit insurance policies, It helps exporters manage credit risks and secure trade transactions.
- Export Credit Guarantee Corporation facilitates access to bank guarantees and financial assistance, enabling exporters to fulfill their export obligations.
- It assists exporters in market research and identifying export opportunities, enhancing their competitiveness in international markets.
- It provides guidance on export-related documentation, procedures, and regulations, ensuring smooth export transactions.
Challenges and Opportunities for the ECGC
- One of the challenges for Export Credit Guarantee Corporation is managing the risk of defaults and non-payment by overseas buyers, which requires robust risk assessment and underwriting processes.
- It needs to continuously adapt to the changing dynamics of international trade and emerging market trends.
- Opportunities for Export Credit Guarantee Corporation lie in expanding its services to support the growth of new sectors and markets, such as e-commerce and emerging economies.
- With the increasing importance of sustainability and responsible business practices, Export Credit Guarantee Corporation can explore offering insurance solutions that promote ethical and environmentally-friendly trade.
Future Prospects for the ECGC
The Export Credit Guarantee Corporation is expected to play a vital role in supporting India’s export growth and economic development. With the government’s focus on promoting exports and ease of doing business, ECGC is likely to witness increased demand for its services.
Technological advancements and digitalisation will provide opportunities for Export Credit Guarantee Corporation to enhance its efficiency and offer innovative solutions. It can strengthen its collaborations with international trade finance institutions to expand its reach and provide comprehensive support to exporters. The Export Credit Guarantee Corporation role as a trusted partner for exporters and its contribution to India’s export-led growth make it well-positioned for a promising future.
Conclusion:
The Export Credit Guarantee Corporation of India (ECGC) serves as a vital pillar in promoting India’s international trade by providing export credit insurance and related services. By mitigating the risks associated with exporting, ECGC empowers exporters to explore new markets, expand their businesses, and extend credit to foreign buyers with confidence.
The risk protection offered by ECGC ensures timely and secure payments, bolstering the financial stability of exporters and enhancing their access to credit facilities. As a significant contributor to India’s export growth, ECGC plays a crucial role in supporting the country’s economic development and fostering global trade relationships. Exporters and banks alike benefit from the services provided by ECGC, making it a pivotal institution in the landscape of international trade from India.
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FAQs
1. What is ECGC and its Role?
ECGC, or the Export Credit Guarantee Corporation of India, is a government-owned company that offers export credit insurance to exporters and banks. Its role is to protect exporters from the risks of non-payment and to promote exports from India.
2. Is ECGC a Central Government Job?
Yes, ECGC is a public sector company wholly owned by the Government of India. However, it operates as an independent organization under the administrative control of the Ministry of Commerce and Industry.
3. How Many Branches Does ECGC Have?
As of my last knowledge update in September 2021, ECGC had various offices and branches located across India to cater to the needs of exporters in different regions. The number of branches may have changed since then due to organizational developments.
4. What is the Authorized Capital of ECGC?
The authorized capital of ECGC is the maximum amount of capital that the company is legally permitted to raise from its shareholders. As of my last update, the authorized capital of ECGC was Rs. 5,000 crore. However, it's essential to verify this information with the latest sources as it may have been revised.
Is ECGC's recruitment for PO (Probationary Officer) conducted on an annual basis?
Yes, ECGC's recruitment for PO (Probationary Officer) is conducted on an annual basis.
What are the educational qualifications required for the ECGC PO position?
The minimum educational qualification required to become a probationary officer is graduation. Any graduate from a recognized field is eligible to take the exam.
What is the starting salary for a Probationary Officer at ECGC (Export Credit Guarantee Corporation of India)?
The ECGC (Export Credit Guarantee Corporation of India) PO (Probationary Officer) receives a minimum basic pay of Rs. 53,600 per month, with an annual increment of Rs. 2,645.
What is the minimum passing score required to qualify for the ECGC PO exam?
The minimum passing score required to qualify for the ECGC PO exam in the interview round is 40% of 60 i.e. 24 for the General candidate.
How many attempts are allowed for the ECGC PO recruitment process?
There is no restriction on the number of attempts to take the ECGC PO Exam.
What are the subjects covered in the ECGC PO examination?
The ECGC PO written examination syllabus encompasses five subjects, which include: Reasoning Ability: This section evaluates the candidate's logical and analytical thinking abilities. Topics may include puzzles, seating arrangements, coding-decoding, and other logical reasoning questions. English Language: This section assesses proficiency in the English language. It covers grammar, vocabulary, comprehension, and language usage. Computer Knowledge: This section tests the candidate's knowledge of computer basics, including hardware, software, and common applications. Questions may also relate to computer terminology and functions. General Awareness: This section evaluates the candidate's awareness of current events, general knowledge, and current affairs. Topics may include national and international news, politics, economics, and important events. Quantitative Aptitude: This section assesses mathematical and numerical abilities. Topics often include arithmetic, algebra, geometry, data interpretation, and quantitative analysis. Candidates preparing for the ECGC PO written examination should thoroughly study and practice these subjects to perform well in the test.
Which is better, RBI Grade B or ECGC PO?
Both the Reserve Bank of India (RBI) and the Export Credit Guarantee Corporation of India (ECGC) offer unique and promising career opportunities in the financial sector. Choosing between the two depends on your career goals, interests, and priorities.
What is the highest salary in PO in India?
The starting in-hand salary for an SBI (State Bank of India) Probationary Officer (PO) typically falls within the range of INR 52,000 to INR 55,000 per month. This figure includes a basic pay of INR 41,960. It's important to note that these figures are approximate and can vary depending on factors such as location, allowances, promotions, and other factors that may come into play during an SBI PO's career.
