Shakeup at Karnataka Bank: Leadership Changes Amid Disputes

Karnataka Bank's MD & CEO Srikrishnan Hara Hara Sarma and Executive Director Sekhar Rao have resigned due to personal reasons and disputes with the board. The bank is forming a search committee for new leadership. Meanwhile, operational stability and strong financial health are emphasized to assure stakeholders.

Karnataka Bank is undergoing significant leadership changes as its Managing Director and CEO, Srikrishnan Hara Hara Sarma, has announced his resignation effective July 15, citing personal reasons, including relocation to Mumbai.

Executive Director Sekhar Rao has also stepped down, mentioning personal and relocation challenges to Mangaluru as factors behind his decision.

Amid reports of board disputes, the bank formed a search committee to find successors, while reassuring stakeholders of operational stability and a strong financial position, with a Capital Adequacy Ratio over 19.85 per cent indicating robust risk management.

(With inputs from agencies.)