The Hindu Business Line : Karnataka Bank export credit

MANGALORE: The credit flow of Karnataka Bank Ltd to the export sector was 13.76 per cent of the net bank credit as on March 31, according to the General Manager (Credits), Mr N.S. Chakkera.

Delivering the introductory address at the "Foreign Exchange Business Review Conference 2004" of the bank in Mangalore on Saturday, he said that the RBI stipulation for credit to export sector was 12 per cent of the net bank credit.

A bank release said here on Monday that the conference recapitulated the performance during the previous year and assigned quantitative targets for the current year.

The Chairman and CEO of the bank, Mr Ananthakrishna, who released the document — "The Indian Gem and Jewellery Industry - an outlook," prepared by the Foreign Exchange Division — termed export as a national priority. Efforts should be made to provide timely and adequate credit to export sector, he added.

Mr N. Upendra Prabhu, Deputy General Manager (Specialised Advances), welcomed the gathering.

The branch heads of all the forex designated branches and the heads of the Regional Offices attended the conference.

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