Which of the following statements is incorrect regarding the Export Credit Guarantee Corporation (ECGC) and its operations?
1
ECGC provides credit insurance against payment default by overseas buyers.
2
It covers political risks like war and sudden trade restrictions.
3
The ECGC was founded in 1957 to promote Indian exports.
4
The ECGC provides insurance against anti-dumping duties.
5
It also covers economic risks for Indian exporters.