Audit Reports
Commercial
Report No. 12 of 2012 – Performance Audit of Operational Performance of Export Credit Guarantee Corporation of India Limited, Ministry of Commerce and Industry
Overview
Export Credit Guarantee Corporation of India Limited, a Company fully owned by the Government of India was formed in 1957 with the objective of catalyzing the promotion of exports from the country by covering the risks of exports on credit.
It is registered with Insurance Regulatory and Development Authority (IRDA) as a general insurance company dealing in credit insurance policies/covers. Our main audit objective in conducting this Performance Audit was to examine the operational performance of the Company during the years 2008-09 to 2010-11 with a view to assessing the effectiveness of system.
In place for underwriting risks and settlement of claims relating to covers issued to banks and short term policies issued to exporters. During the course of audit, adequacy of the risk mitigation measures in place for protection against large claims was also examined. Significant audit findings.