banner_ad

ECGC/DICGC

This query is : Resolved 
Profile Image

Profile Image

(Querist)
13 February 2010 can ne1 explain 2 me the concept of ecgc/dicgc cover in case of banking companies??....as to why we create such a provision???
Profile Image

DEEPIKA GOEL

Profile Image

DEEPIKA GOEL (Expert)
14 February 2010 In case of advances guaranteed by ECGC or DICGC, provision is required to be made only for the balance in excess of the amount guaranteed by these corporations after deducting the realizable value of the security if the banks hold a security in respect of an advance guaranteed by ECGC/DICGC.
(A) Amount outstanding
(B) Less:- realizable value of security
(C) Unsecured Portion (A-b)
(D) Provision required for unsecured portion @100%
(E) Provision required for secured portion @ 20/30/50 % (if doubtful as per NPA norms)
(F) Total (D+E)
(G) Less:- ECGC/DICGC cover
(H) Total provision required (E-G)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details