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Karnataka Bank aims to achieve export credit target of ₹2,490 crore during the current financial year, according to P Jayarama Bhat, Managing Director and Chief Executive Officer of the bank.
Delivering the keynote address in the forex business conference of the bank in Mangaluru on Tuesday, he said the business opportunities have turned bright with good onset of monsoon and other positive macro economic conditions. This will help the forex business too.
He advised the forex-designated branch heads and the regional heads to ensure compliance to all FEMA, RBI, and internal guidelines.
Bhat also unveiled a ready reckoner for forex transactions brought out by the bank on the occasion.
Mahabaleshwara MS, Chief General Manager of the bank, advised all the forex-designated branch heads to reach out to more and more exporters and importers to improve the forex business.
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