Archive · 30 Jun 2025
Karnataka Bank MD and ED Resign, Citing Personal Reasons, Board Disagreements
The top two leaders of Karnataka Bank are leaving their jobs.
The CEO is leaving because he's moving, with his last day July 15th.
The Executive Director is leaving because he cannot spend enough time at Mangaluru with his last day being July 31st.
The bank has appointed a new COO, and a committee will search for replacements.
Reports suggest the resignations were due to disagreements over financial matters.
Karnataka Bank's MD & CEO, Srikrishnan H, and Executive Director, Sekhar Rao, resigned.
Srikrishnan H's resignation is effective July 15, 2025, due to personal reasons including relocation.
Sekhar Rao's resignation is effective July 31, 2025, due to difficulties spending time in Mangaluru.
Raghavendra Srinivas Bhat appointed as COO, effective July 2, 2025.
Resignations followed reports of disagreements with the Board.
- Who
- Srikrishnan H (MD & CEO) and Sekhar Rao (Executive Director).
- What
- The MD & CEO and Executive Director of Karnataka Bank resigned.
- When
- June 29, 2025; Resignations effective July 15 and July 31, 2025.
- Where
- Karnataka Bank, Mangaluru (Head Office).
- Why
- Personal reasons, and reported disagreements.
Board Disagreements
Bank Response
Financial Disagreements
Board Disagreements
Disagreements stemmed from an expenditure of Rs 1.53 crore beyond delegated powers.
Bank Response
The bank has not commented, but reports indicate there was internal disagreement over a financial matter.
- MD & CEO
- Srikrishnan Hari Hara Sarma
- Executive Director
- Sekhar Rao
- COO
- Raghavendra Srinivas Bhat
- Resignation Effective Date (MD & CEO)
- July 15, 2025
- Resignation Effective Date (ED)
- July 31, 2025
- Bank
- Karnataka Bank Ltd
