Top Searches
Advertisement

Banking on Experience—Karnataka Bank Taps 38-Year Veteran Raghavendra Bhat as New CEO

Updated: July 14, 2025 13:02

Image Source: StockPage
In a strategic move to ensure operational continuity, Karnataka Bank Ltd. has appointed Raghavendra Srinivas Bhat as its interim Managing Director and Chief Executive Officer, effective July 15, 2025, pending final approval from the Reserve Bank of India (RBI). The appointment follows the resignation of outgoing MD & CEO Srikrishnan Hari Hara Sarma and Executive Director Sekhar Rao, both citing personal reasons.
 
Who Is Raghavendra Srinivas Bhat?
  • A 38-year veteran of Karnataka Bank, Bhat began his career as a clerk in 1981 and rose through the ranks to become Chief General Manager.
  • He was recently appointed Chief Operating Officer (COO) on July 2, 2025, to steer the bank through its leadership transition.
  • His expertise spans banking operations, finance, HR, IT & digital banking, treasury, insurance, and rural economy—making him a well-rounded leader with deep institutional knowledge.
Why the Change?
  • The leadership shake-up was triggered by auditor concerns over unratified expenses amounting to ₹1.53 crore, raising governance questions.
  • Both Sarma and Rao resigned in late June, with Sarma’s exit effective July 15 and Rao’s on July 313.
  • A search committee has been formed to identify permanent successors, with the process expected to take 4–5 months.
Chairman’s Assurance
“We have brought in a man with tremendous experience to steer the ship,” said P. Pradeep Kumar, Chairman of Karnataka Bank. “The bank is well-capitalized, stable, and has enough growth capital for the next 3–4 years,” he added.
 
What’s Next for Karnataka Bank?
  • The bank will continue its digital transformation, AI investments, and customer-centric initiatives.
  • Stakeholders have been assured of no disruption in operations, with Bhat’s appointment seen as a stabilizing force.
Sources: The Hindu BusinessLine, Economic Times, Business Today, Deccan Herald, NDTV Profit

Advertisement

STORIES YOU MAY LIKE

Image Source : Business Wire
Kenvue CEO Departs as Board Launches Strategic Overhaul
Image Source : Realty Plus Magazine
Bandhan Bank Appoints Biju E. Punnachalil as Chief Risk Officer for Three-Year Term
Image Source : MSN
Air India’s Fleet Safety Checks Show Clean Results Amid Boeing Scrutiny
Advertisement
Image Source : Moneycontrol
SBI Card Appoints Krishna Kant Bishnoi as New Chief Risk Officer
Image Source : KNN India
Cool Winds in a Hot Economy: Inflation Hits Multi-Year Low as RBI Rethinks Forecasts
Image Source : EquityMaster
Tata Technologies Smashes Street Projections in Q1—What’s Powering the Surge?
Image Source: The Economic Times
President Murmu Reshuffles Raj Bhavan Line-Up With Key Appointments In Haryana, Goa, Ladakh
Advertisement
Live Blogs
SBI Tags RCom Loan as Fraud, Puts Anil Ambani in RBI Crosshairs
Thrill-Seekers Assemble: APTDC Flooded with 130 Adventure Tourism Applications
Level Unlocked: Good Game Becomes World’s First As-Live Global Gaming Reality Show
From Devotion to Dynamite: Ganesh’s Mighty Avatar Steals the Show in Yours Sincerely, Raam
Top Stories
Image Source: Business Standard
Sonova Taps Unicommerce’s Convertway to Power Sennheiser’s E-Commerce Push
Image Source : IPO Central
Smartworks IPO Sees Strong Finish with 4.15x Subscription; GMP Signals Mild Upside
Image Source : Hindustan Times
India and China Signal Diplomatic Reset as Jaishankar Meets Wang Yi in Beijing
Image Source : The Print
Sun Pharma Settles Patent Dispute with Incyte, Secures License for Leqselvi Launch
Advertisement
Advertisement

Follow WOWNEWS 24x7 on:

Copyright 2024 WOWNEWS 24x7. All rights reserved. The WOWNEWS 24x7 is not responsible for the content of external sites. Read about our approach to external linking.

Powered By Just Imagine