Karnataka Bank targets Export Credit of ` 3160 crore.

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Mangalore : The Bank is targetting a fresh disbursement of ` 1460 crore under Export Credit during 2013-14, and thereby proposing to achieve the stipulated target of 12% set by RBI. Mr. P. Jayarama Bhat, Managing Director of the Bank, said this while delivering the keynote address at “Foreign Exchange Business Review Conference – 2013”of the Bank here on Tuesday.

At present the Bank has 20 designated Branches for forex business, including 3 Overseas Branches and 56 Forex Bureau Branches who are feeders to these designated Branches. Discussing the performance of the branches, Dr. Meera Aranha, General Manager – LCFD informed that the bank had registered a growth of ` 248 crore in export credit and ` 458 crore in merchant turnover during the previous financial year. Mr. Jayanagaraja Rao S, Chief Manager – Salem branch was felicitated on achieving the Best Progressive Branch for Forex Merchant Turnover award for 2012-13.

Mr. P. Jairama Hande, Mr. N. Upendra Prabhu and Mr. Mahabaleshwara M. S, General Managers were present. Mr. B. Chandrashekar Rao, Deputy General Manager, LCFD, welcomed the participants and Mr. Manohar V.N, Deputy General Manager, RMFD, thanked the invitees.

The participants included the Regional Heads, the Branch Heads from Foreign Exchange designated branches, Executives from the International Division, Mumbai, Data Centre, Central Processing Centre and Forex Support Group.

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