Karnataka Bank Appoints Raghavendra Srinivas Bhat as MD & CEO

Mangalore Today News Network

Mangaluru, Nov 16, 2025: Karnataka Bank Ltd has appointed Raghavendra Srinivas Bhat as its Managing Director (MD) and Chief Executive Officer (CEO) for a period of one year starting November 16, 2025. The appointment follows approval from the Reserve Bank of India (RBI) conveyed through a letter dated November 14, 2025. The bank’s Board of Directors ratified the appointment at its meeting on Saturday.

Bhat, a veteran banker with nearly four decades of service at Karnataka Bank, was earlier appointed as Additional Director in the capacity of MD and CEO for three months from July 16, 2025, following the resignations of the then MD and Executive Director (ED). On October 4, the bank informed stock exchanges that the RBI had granted a one-month extension from October 16, 2025.

The leadership changes began after the resignations of MD and CEO Srikrishan Hari Hara Sarma and ED Sekhar Rao on June 29. Sarma’s resignation, effective July 15, 2025, cited personal reasons, including his move to Mumbai, while Rao stepped down citing his inability to relocate to Mangaluru, with his resignation taking effect on July 31, 2025.

To ensure operational continuity, Bhat was appointed Chief Operating Officer (COO) on July 2. Having joined Karnataka Bank as a clerk in 1981, he rose through the ranks to serve as Chief General Manager and COO until his retirement in 2019.

The bank highlighted his extensive experience spanning HR, IT and digital banking, treasury and forex operations, insurance, and rural banking. With more than a decade in top management roles, Bhat has played a key role in shaping the bank’s strategic decisions, Karnataka Bank said in a statement.