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IDBI Bank to offer Rs export credit

IDBI Bank plans to offer rupee export credit from all its branches in a bid to increase its export credit portfolio. At present the bank offers export credit from 50-odd branches that are authorised to deal in foreign exchange. These branches also support the export credit (both in foreign currency and rupees) requirements of exporters-customers of the 1,050 branches. B.K. Batra, DMD of the bank, said being a relatively new bank, IDBI Bank lags behind peers in fund-based export credit. “Fortunately, we have a large number of corporate relationships. What we have found is that our engagement with them vis-à-vis export credit needs to be improved. Right now, 20-25% of our exporter-clients avail of export credit (working capital) from us. So, we need to scale it up so that at least 50% of the clients take partial export credit from us,” he said. The bank will increase coverage of clients by providing them larger number of touch points (branches). Last year, IDBI Bank’s export credit (working capital) disbursements were about Rs 6,400 crore. This year, the bank is expecting export credit disbursements of about Rs 10,000 crore.

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