Karnataka Bank Elevates Raghavendra S Bhat As Interim MD & CEO Amid Leadership Shake-Up

Image Source : karnatakabank.com

Karnataka Bank Ltd has appointed veteran banker Raghavendra Srinivas Bhat as its Managing Director and CEO for a three-month interim term starting July 16, 2025. The decision follows the resignation of MD Srikrishnan Hari Hara Sarma and ED Sekhar Rao, both citing personal reasons.

Leadership Transition Highlights

- Bhat has served Karnataka Bank for 38 years, rising from clerk in 1981 to Chief Operating Officer
- His appointment was approved by the Board and the Reserve Bank of India
- He will also serve as Additional Director and Key Managerial Personnel during the interim period
- The bank has formed a search committee to identify a permanent MD and ED

Professional Background

- Bhat previously held top management roles in the CGM cadre until 2019
- His expertise spans HR, IT and digital banking, treasury, forex, insurance, and rural finance
- He resumed duties as COO on July 2, 2025, before being elevated to MD & CEO

Strategic Context

- The leadership change comes amid board-level tensions over unratified expenditures and appointments
- Bhat’s deep institutional knowledge is expected to ensure operational continuity and stakeholder confidence
- The bank remains well-capitalised with a CAR of 19.85 percent and aims to maintain growth momentum

Sources: The Hindu BusinessLine, Economic Times, Moneycontrol, Business Today, Financial Express, NDTV Profit.