“Forex sector deserves preferential treatment”: Mahabaleshwara M. S

Mangalore Today News Network

Mangaluru, July 21,2017: “Exports from India have been exhibiting positive growth for the last few months and Karnataka Bank will be proactive in extending all the required banking facilities to Forex sector by giving preferential treatment and aims to achieve export credit target of Rs. 2,500 Crores.

With various pro-business agenda and initiatives taken up by the Govt. of India, such as Make in India, Start Up India, Digital India etc. the business opportunities have turned bright and this will surely turnaround the scenario in forex business also” said Sri Mahabaleshwara M. S., MD & CEO of Karnataka Bank.  He was delivering key note address in the Forex Business Conference of the bank held at the Bank’s Head Office, on 21.07.2017.

The Chief General Manager Sri. Raghavendra Bhat M. highlighted about the new export credit product “KBL-Export Mithra” which has a competitive interest rate along with other features and advised all the forex designated Branch Heads to reach out to more and more exporters and importers to improve the forex business.

Sri. Muralidhar Krishna Rao, General Manager, in his address unveiled the road map for forex business for the year 2017-18.The inaugural function was also graced by General Managers Sri. Chandrashekar Rao B, Sri. Subhaschandra Puranik, Sri. Y. V. Balachandra and Sri. Nagaraja Rao B.

Sri. Mahalingeshwara K., Deputy General Manager welcomed the gathering, Sri. Srinivas S Dandapur, Chief Manager, Forex Support Group gave a brief overview of the forex business of the Bank and Sri. Chandrashekar, Assistant General Manager proposed vote of thanks.

The conference was attended by the Branch Heads of all the 26 forex designated branches, 12 Regional Heads and other executives of the Bank.