Karnataka Bank unveils 'Gold Card Scheme'

Karnataka Bank Limited has recently launched a 'Gold Card Scheme' for exporters.

Exporters having a "good track record" with the bank for a minimum period of three years are eligible for the scheme.

Considering the importance of exports as a 'national priority', Karnataka Bank has introduced this scheme on the broad guidelines given by the Reserve Bank of India (RBI).

As per the scheme, exporters will be sanctioned credit limits for a period of three years on an anticipated export turnover.

Any additional/ad hoc limits will also be considered on a speedy mechanism on case-to-case basis. The card holders will be given preference in allotting packing credit in foreign currency and FCDL when compared to other borrowers.