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Karnataka Bank, in association with Federation of Indian Export Organisations (FIEO), conducted an exporters’ meet in Chennai recently.
A press release by the bank said here on Monday that the meet was organised to promote export business in Tamil Nadu, especially in and around Chennai.
Inaugurating the meet, M. Rafeeque Ahmed, President of FIEO, highlighted various promotional activities undertaken by FIEO and the Government for the benefit of exporters.
Speaking on the occasion, P. Jayarama Bhat, Managing Director and Chief Executive Officer of Karnataka Bank Ltd, said the bank is reimbursing the interest subvention to eligible exporters on quarterly basis without waiting for getting reimbursement from the RBI. The bank is exploring the possibility of reimbursement of interest subvention on a monthly basis, he said.
Geetha Muralidhar, Executive Director of Export Credit Guarantee Corporation of India Ltd, explained the role of ECGC in covering the risks of exporters and banks.
Walter D’Souza, Chairman, FIEO (Southern Region), and R. Periasami, Commissioner of Service Tax, spoke on the occasion.
vinayak.aj@thehindu.co.in
A press release by the bank said here on Monday that the meet was organised to promote export business in Tamil Nadu, especially in and around Chennai.
Inaugurating the meet, M. Rafeeque Ahmed, President of FIEO, highlighted various promotional activities undertaken by FIEO and the Government for the benefit of exporters.
Speaking on the occasion, P. Jayarama Bhat, Managing Director and Chief Executive Officer of Karnataka Bank Ltd, said the bank is reimbursing the interest subvention to eligible exporters on quarterly basis without waiting for getting reimbursement from the RBI. The bank is exploring the possibility of reimbursement of interest subvention on a monthly basis, he said.
Geetha Muralidhar, Executive Director of Export Credit Guarantee Corporation of India Ltd, explained the role of ECGC in covering the risks of exporters and banks.
Walter D’Souza, Chairman, FIEO (Southern Region), and R. Periasami, Commissioner of Service Tax, spoke on the occasion.
vinayak.aj@thehindu.co.in
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