Day's development: India wrap in 24 hours

Cabinet approves ECGC IPO; Govt to infuse massive capital, Snubbed by Cong, Captain meets Amit Shah, Take me back home, says surrendered Pak terrorist, In Bengaluru, 60 students test Covid positive, PM Poshan scheme gets Centre’s nod

Day's development: India wrap in 24 hours
Clockwise: Cabinet approves ECGC IPO, Amit Shah Indian Minister of Home Affairs, PM Poshan scheme gets Centre’s nod. Picture by Rajeev Bhatt

Cabinet approves ECGC IPO; Govt to infuse massive capital

In a bid to boost India’s exports, the Union cabinet has cleared a proposal to list state-owned Export Credit Guarantee Corporation (ECGC) Ltd through the Initial Public Offer (IPO), Commerce Minister Piyush Goyal said.

Video by Rajeev Bhatt

The government will also invest ₹ 4,400 crore ($5,92,78,273) in ECGC for five years to provide support to exporters as well as banks.