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Forex Services

Forex Services

Exports

We offer the following Export related services:

  • Pre shipment credit facility is offered to exporters for financing their working capital requirements i.e., for the purchase of raw material and various other activities prior to shipment of the goods.
  • Pre shipment credit facility is granted based on the letter of Credit in favor of the exporter or a confirmed and irrevocable order for the export of goods from India.
  • Pre shipment credit facility is released either on running account basis or on order to order basis on case to case basis.
  • The period of pre shipment credit facility depends on the type of product produced / type of service offered. In a nutshell, the period will be in line with time required from procurement stage till shipment stage.
  • Pre shipment credit facility will be repaid out of the post-shipment credit facility released by way of bill finance.
  • We also offer PCFC to enable exporters to have access in India to foreign currency funds at competitive rates.
  • Exporters need not have a separate sub limit for PCFC. It is an integral part of pre-shipment credit facility sanctioned.
  • Post shipment credit facility is essentially an advance against export receivables which will be in the form of shipping documents.
  • Post shipment credit facility may be availed either by Purchase / discount / negotiation of export bills or by as advance against export bills sent for collection.
  • The exporter can avail post-shipment credit facility either in Rupee or in foreign currency.
  • We ensure hassle free collection of export proceeds through our correspondent network for the export bills routed through our Bank.
  • We have tie-up with internationally reputed Courier agencies to ensure prompt, efficient and timely dispatch of your export documents.
  • We check the authenticity of export LC issued in your name and ensure that it is reaches you in time.
  • You may then ask your buyers to route the LCs through Karnataka Bank for advising to you. We will ensure its timely delivery.
  • Our expert advisory team can help you in understanding LC terms.
  • Through our vast correspondent banking network, funds can be transferred from abroad to your account with us.
  • The fund transfer is through a highly secured and fast Swift mode.

In order recognize your performance in exports, we as a token of our gesture award you with "Gold Card", which is accompanied with host of entitlements to enthuse you to do further more:

  • Concession of 50 bps on interest rate upto 270 days incase of pre shipment and upto 180 days in case of post shipment finance.
  • 50% concession in service charges.
  • The in principle limits will be sanctioned for a period of 3 years subject to annual review.
  • PCFC and FCDL requirements of the Gold Card holders will be met on priority basis.
  • Fast disposal of credit applications.

It is a tailor made export credit product to meet the needs of small and medium exporters with competitive interest rate.

Imports

We offer the following Import related services:

  • Business by Letter of Credit is historically the better way to deal with strange traders / manufactures/ foreign bank. You may bank on our reputation and goodwill in the international market by availing Letters of Credit facility from us for your purchases in international trading operations.
  • We have built an extensive correspondent banking network to get the LCs advised to the beneficiary expeditiously.
  • Through our relationship with Credit Report agencies, you will get first hand information about the overseas suppliers at a competitive price.
  • Receiving import bills on collection basis will help in reducing the cost of import transaction.
  • We provide hassle free import document handling service. With our strong correspondent banking relationship, you can remit the funds to your supplier whenever you choose to remit the funds.
  • To make use of extended credit period offered by overseas Banks, we will arrange Buyers’ Credit for your imports at a competitive rate.
  • Through our vast correspondent banking network, funds can be transferred from your account subject to ceilings as per FEMA.
  • The fund transfer is through a highly secured and fast Swift mode.