Karnataka Bank export credit target

Karnataka Bank Ltd is targeting fresh disbursement of Rs 1,460 crore under export credit during 2013-14. With this disbursement, the bank is targeting total export credit of Rs 3,160 crore by the end of 2013-14, according to P. Jayarama Bhat, Managing Director of the bank. He was delivering the keynote address at ‘Foreign Exchange Business Review Conference 2013’ here on Tuesday. At present, the bank has 20 designated branches, including three overseas branches, for forex business. Added to this, 56 branches act as feeders to the designated branches. Meera Aranha, General Manager of the bank, said the bank registered a growth of Rs 248 crore in export credit during 2012-13. General Managers P. Jairama Hande, N. Upendra Prabhu and Mahabaleshwara M.S. were present at the event.