Raghavendra Srinivas Bhat has been appointed as the interim Managing Director and Chief Executive Officer (MD & CEO) of Karnataka Bank, starting from 16 July 2025. This decision comes in the wake of a recent leadership crisis following the resignation of the previous MD and CEO. Bhat will serve in this role for three months or until a permanent CEO is appointed.
Who is Raghavendra S Bhat?
Raghavendra S Bhat is a veteran employee of Karnataka Bank, having joined as a clerk in 1981. With decades of experience, he rose through the ranks to become the Chief Operating Officer (COO) in 2019. His re-appointment as COO on 1 July 2025 preceded his new role as the interim MD & CEO. Bhat’s extensive tenure with the bank makes him a credible choice during this transitional phase.
Leadership Reshuffle and Resignations
- The leadership shuffle ensued following the resignation of Srikrishnan Hari Hara Sarma, the former MD and CEO, who stepped down on 29 June 2025 due to personal reasons.
- Executive Director Sekhar Rao also resigned, citing personal reasons and the inability to relocate to Mangaluru. His resignation will be effective from 31 July 2025.
What Happens Next?
To fill the positions of permanent MD, CEO, and Executive Director, the Karnataka Bank board has formed a search committee. It has been affirmed that Bhat faces no restrictions from SEBI or any other regulatory body, and he has no familial ties to the current directors. The bank aims to ensure stability while the quest for new leadership progresses.
Key Takeaways for Competitive Exams:
- Raghavendra Srinivas Bhat appointed as the interim MD & CEO of Karnataka Bank from 16 July 2025.
- Bhat, a long-serving employee, previously held the position of COO before assuming his current role.
- The leadership change was triggered by the resignations of the former MD & CEO and an Executive Director.
- Karnataka Bank is actively searching for permanent replacements while Bhat oversees operations in the interim.
