JOIN USKarnataka Bank is targeting fresh disbursements of Rs 1,460 crore under export credit during 2013-14, thereby proposing to achieve the stipulated target of 12 per cent set by RBI, said P Jayarama Bhat, managing director of the bank, on Tuesday.
He was delivering the keynote address at ‘Foreign Exchange Business Review Conference – 2013” of the Bank in Bangalore.
The bank currently has 20 designated branches for its forex business, including three overseas branches and 56 Forex Bureau branches who are feeders to these designated branches.
Discussing the performance of the branches, Meera Aranha, general manager - LCFD, said that the bank posted growth of Rs 248 crore in export credit and Rs 458 crore in merchant turnover during 2012-13.
Jayanagaraja Rao S, Chief Manager – Salem branch was felicitated on achieving the Best Progressive Branch for forex merchant turnover in 2012-13. Participants at the conference included regional heads, branch heads from foreign exchange designated branches and the bank’s Forex Support Group.