Daijiworld Media Network—Mangalore (CN)

Mangalore, Aug 21: Ananthakrishna, chairman and CEO of Karnataka Bank Limited, said there is a need for expanding the forex credit as it is a national priority and also to achieve a balanced future with sustainable growth.   He was inaugurating a seminar on 'Foreign exchange- 2008' at the bank's head office, recently.

The seminar aimed at reviewing the performance of the bank in forex business during 2007-08 and to discuss the plan of action for the current year. Heads of all regions, international division, central processing centre, overseas branches, forex designated branches and heads of branches with the potential to improve the forex business, participated.

Ananthakrishna, chairman, Karnataka Bank Limited, at the 'Foreign Exchange Seminar-2008' held at the head office. Also Sarvashri P Jayarama Bhat, chief general manager, G K Bhat, K H Shivaswamy Aithal, and P Jairama Hande.

The chairman added that the bank was setting a target of Rs 10,250 crore in forex business envisaging a growth of Rs 2,375 crore for the current year. Branch heads have been advised to scout for new forex clients and achieve the targets of the current year.

P Jayarama Bhat, chief general manager, welcomed the gathering. K V Vijayashankar Rai, assistant general manager, international division, Mumbai,  presented a forex profile of the bank. A detailed discussion on the working of the central processing centre for smooth functioning of forex business was held on the occasion. N Upendra Prabhu, deputy general manager, welcomed the gathering   and I Santhosh Kumar, assistant general manager, proposed the vote of thanks.