Karnataka Bank has earmarked export credit of ₹2,900 crore for 2018-19. Delivering the keynote address at the Forex Business Conference of the bank in Mangaluru on Thursday, Mahabaleshwara MS, Managing Director and CEO of the bank, said that exports from India have shown positive growth but are not at the expected level.
He said that the positive global economic outlook during 2018-19 will benefit Indian trade prospects and that Indian exports are also likely to continue on an upward trajectory during the year.
He said that Karnataka Bank will be proactive in extending all the required banking facilities to the forex sector by giving preferential treatment. Accordingly, the bank has earmarked export credit of ₹2,900 crore for the current financial year, said Mahabaleshwara.
The export credit of the bank increased by 20.82 per cent on a year-on-year basis during 2017-18.