The Hindu Business Line : Forex processing centre

Karnataka Bank Ltd opened a Central Processing Centre (CPC) for processing forex transactions in Mangalore on Thursday. A bank release said here that Mr Ananthakrishna, Chairman and Chief Executive Officer of the bank, inaugurated the centre to process forex transactions at remote locations using ‘imaging technology’. He said that the CPC will enable the bank to process forex transactions of various branches at a central location thereby providing efficient services to the forex clients across the country. The bank proposes to achieve foreign exchange business turnover of Rs 8,500 crore (Rs 6,101.16 crore) in the current financial year. Another release said that Mr Ananthakrishna completed seventh year in office on Thursday. Mr Ananthakrishna, who has completed two terms for three years each, is stepping into the second year of his third term for three years as Chairman and Chief Executive Officer of the bank on Friday, it added. —

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