“Karnataka Bank sets export credit target of Rs.2900 crore to support export sector"

Mangalore Today News Network

June 21, 2018: “The exports from India has shown positive growth but not at expected level.  As per the reports, positive global economic outlook during FY 2018-19 will benefit Indian trade prospects and Indian exports are also likely to continue on an upward trajectory during the year.

Karnataka Bank will be proactive in extending all the required banking facilities to Forex sector by giving preferential treatment and accordingly has earmarked export credit of Rs. 2900 Crore for the current year.  During the FY 2017-18, the export credit of the Bank has increased by 20.82% on y-o-y basis.” said Shri 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 21.06.2018.

The Chief Operating Officer Shri Raghavendra Bhat M, highlighted about the business prospects available in the market and advised all the forex designated Branch Heads to reach out to more and more exporters and importers to improve the forex business. In the backdrop of various forex scams, he also cautioned the forex managers to be vigilant while undertaking the forex business.
Shri Muralidhar Krishna Rao, General Manager, in his address unveiled the road map for forex business for the year 2018-19.

The inaugural function was also graced by General Managers Shri Subhaschandra Puranik, Shri Y V Balachandra, Shri Nagaraja Rao B., Shri Gokuldas Pai, Shri Manjunatha Bhat B K and Shri Mahalingeshwara K. Shri Vadiraj K. A., Deputy General Manager welcomed the gathering, Smt. Jane Maria Nalini Saldanha, Chief Manager, Forex Support Group gave a brief overview of the forex business of the Bank and Shri 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.