Economics • Indian EconomyMedium
What is the primary objective of the 'NIRVIK' (Niryat Rin Vikas Yojana) scheme introduced by the Export-Import Bank of India (EXIM Bank)?
A. To enhance loan availability and provide higher insurance cover up to 90 percent for Indian exporters, reducing credit constraints.✓ Correct Answer
B. To provide venture capital funding exclusively to technology startups operating in tier-2 cities.
C. To finance green energy corridors and cross-border electricity transmission lines.
D. To construct multimodal logistics parks across major industrial corridors.
💡 Solution & Explanation
The NIRVIK scheme was launched by the Export-Import Bank of India through the Export Credit Guarantee Corporation to enhance loan availability and provide enhanced insurance cover of up to ninety percent for Indian exporters. Other initiatives like startup funds or infrastructure corridors serve entirely different developmental goals. The scheme is intended to lower borrowing costs and expedite claim settlements for small-scale exporters.
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