Current Affairs - Banking - Discussion

Karnataka Bank faced a major leadership change when both its Managing Director & CEO, Srikrishnan Hari Hara Sarma, and Executive Director, Sekhar Rao, submitted their resignations citing personal reasons. Sarma plans to relocate to Mumbai, while Rao is unable to move to Mangaluru, the bank's headquarters. These resignations, effective from July 2025, come during the bank’s strategic transformation efforts aimed at digitization and operational modernization. In response, a search committee has been formed to identify new leadership, and a Chief Operating Officer will temporarily oversee operations. The development underscores the importance of succession planning in sustaining institutional momentum and investor confidence.