Financial Daily from THE HINDU group of publications
Sunday, Apr 04, 2004
Financial Daily from THE HINDU group of publications Sunday, Apr 04, 2004 |
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Money & Banking
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Financial Services ECGC settles bank claims worth Rs 101 cr Our Bureau
Mumbai , April 3 EXPORT Credit Guarantee Corporation of India Ltd (ECGC) has settled Rs 100.81 crore worth of claims in March to various banks across the country due to the default of their exporter clients. The settlements aggregated to the highest amount of claim paid by ECGC so far in any single month, said a press release. One of the largest beneficiaries is State Bank of India whose total claims during the year amounted to Rs 98 crore, said the release. In March, ECGC settled claims of Rs 37 crore of SBI, Rs 16.7 crore of Punjab National Bank, Rs 12.7 crore of Allahabad Bank and Rs 10.83 crore of Bank of India. The rest of the banks which received claim settlements during March were Dena Bank, Tamilnad Merchant Bank, State Bank of Indore, Bank of Baroda, State Bank of Travancore, Punjab & Sind Bank, Central Bank of India, United Bank of India and State Bank of Mysore.
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