<p>Bengaluru: The Board of Directors of Mangaluru-based private sector lender Karnataka Bank has accepted the resignation of the Bank’s Managing Director & CEO, and Executive Director on Sunday. The Bank has also formed a search committee to identify suitable candidates for both the positions, the Bank said in a statement.</p><p>The Board, on Sunday, accepted the resignation of Srikrishnan Hari Hara Sarma as MD & CEO of the bank. The resignation will be effective from July 15, 2025. Sarma has cited personal reasons, including his decision to relocate back to Mumbai, for his resignation.</p><p>The Bank’s Executive Director, Sekhar Rao has also submitted his resignation citing inability to relocate to Mangaluru and other personal reasons. The resignation has been accepted by the Board and will be effective from July 31, 2025.</p>.Critical industrial mineral blocks in the Northeast ready for mining, seven out of 38 blocks auctioned: GSI .<p>The Bank has formed a search committee to identify suitable candidates for the position of a new Managing Director & CEO as well as a new Executive Director. The Bank has appointed an experienced senior banker as the Chief Operating Officer (COO) who will assume charge on July 02, 2025. Additionally, substitute arrangements are also being made subject to the Regulator’s approval.</p><p>On the Notes to Accounts contained in the audited Financial Statements for the FY25 leading to Emphasis of Matter in the Auditor’s Report, the Bank states that it has been discussed and amicably resolved.</p><p>“The Bank continues to take necessary steps to ensure operational stability and assures various stakeholders that it is well capitalised and continues to be sound as hitherto. The transformational journey embarked upon by the Bank will continue unhindered,” the Bank said in its statement.</p><p>The Board has approved the appointment of Raghavendra Srinivas Bhat as the Chief Operating Officer (COO) of the Bank with effect from July 02, 2025. Raghavendra Srinivas Bhat would be a Senior Management Personnel of the Bank and based at the Registered & Head Office at Mangaluru. </p><p>Bhat started his career as a clerk in 1981 and has worked for 38 years in various positions in Karnataka Bank Limited. He has worked more than a decade in top management positions. He has worked in Banking and Finance, including HR, IT & Digital Banking, Treasury & Forex Operations, Insurance (Third Party Products), Agriculture and Rural Economy.</p>
<p>Bengaluru: The Board of Directors of Mangaluru-based private sector lender Karnataka Bank has accepted the resignation of the Bank’s Managing Director & CEO, and Executive Director on Sunday. The Bank has also formed a search committee to identify suitable candidates for both the positions, the Bank said in a statement.</p><p>The Board, on Sunday, accepted the resignation of Srikrishnan Hari Hara Sarma as MD & CEO of the bank. The resignation will be effective from July 15, 2025. Sarma has cited personal reasons, including his decision to relocate back to Mumbai, for his resignation.</p><p>The Bank’s Executive Director, Sekhar Rao has also submitted his resignation citing inability to relocate to Mangaluru and other personal reasons. The resignation has been accepted by the Board and will be effective from July 31, 2025.</p>.Critical industrial mineral blocks in the Northeast ready for mining, seven out of 38 blocks auctioned: GSI .<p>The Bank has formed a search committee to identify suitable candidates for the position of a new Managing Director & CEO as well as a new Executive Director. The Bank has appointed an experienced senior banker as the Chief Operating Officer (COO) who will assume charge on July 02, 2025. Additionally, substitute arrangements are also being made subject to the Regulator’s approval.</p><p>On the Notes to Accounts contained in the audited Financial Statements for the FY25 leading to Emphasis of Matter in the Auditor’s Report, the Bank states that it has been discussed and amicably resolved.</p><p>“The Bank continues to take necessary steps to ensure operational stability and assures various stakeholders that it is well capitalised and continues to be sound as hitherto. The transformational journey embarked upon by the Bank will continue unhindered,” the Bank said in its statement.</p><p>The Board has approved the appointment of Raghavendra Srinivas Bhat as the Chief Operating Officer (COO) of the Bank with effect from July 02, 2025. Raghavendra Srinivas Bhat would be a Senior Management Personnel of the Bank and based at the Registered & Head Office at Mangaluru. </p><p>Bhat started his career as a clerk in 1981 and has worked for 38 years in various positions in Karnataka Bank Limited. He has worked more than a decade in top management positions. He has worked in Banking and Finance, including HR, IT & Digital Banking, Treasury & Forex Operations, Insurance (Third Party Products), Agriculture and Rural Economy.</p>
