MUMBAI, June 7 -- Canara Bank expects no material financial hit from its exposure to Rajesh Exports, newly appointed managing director and chief executive officer Brajesh Kumar Singh said, seeking to reassure investors after a probe by Securities and Exchange Board of India (Sebi) put the jewellery exporter under scrutiny.

Rajesh Exports, among India's largest gold processing companies, is facing allegations of inflating its consolidated revenues by more than Rs.15 trillion over five years by attributing massive revenues to overseas subsidiaries, according to findings of a Sebi probe. The account has been closely watched by investors given the size of the company's historic banking relationships.

Canara Bank's exposure to Rajesh Exports...