Corporation Bank, ECGC ink corporate agency agreement

Coimbatore: Corporation Bank and Export Credit Guarantee Corporation (ECGC) have signed an agreement for a corporate agency tie-up.

The bank has in the recent past developed a number of relationships — corporate agency tie-up with Life Insurance Corporation of India and ECGC, and for sharing of ATM with Karnataka Bank, Oriental Bank of Commerce, Dena Bank and Bank of Rajasthan.

Corporation Bank executive director P K Gupta says this is the first corporate agency tie-up that ECGC has signed with a commercial bank.

This tie-up will enable the bank to provide export credit insurance cover at the bank's end, instead of the exporter seeking the cover from ECGC, which has no agents up till now.