Karnataka Bank has named Raghavendra Srinivas Bhat as its interim Managing Director and Chief Executive Officer (MD & CEO), starting from 16 July 2025. This move comes after a recent leadership crisis, following the resignation of the previous MD and CEO. Bhat will hold the position for three months or until a new permanent CEO is appointed.
Who is Raghavendra S Bhat?
Raghavendra S Bhat is a long-time employee of Karnataka Bank, having joined as a clerk in 1981. Over the years, he moved up the ranks and became the Chief Operating Officer (COO) in 2019. He was re-appointed as COO on 1 July 2025, just before stepping into the interim MD & CEO role. His long experience with the bank makes him a trusted choice during this period of transition.
Leadership Reshuffle and Resignations
The leadership change follows the resignation of Srikrishnan Hari Hara Sarma, the former MD and CEO, who stepped down on 29 June 2025 due to personal reasons. His official term ends on 15 July. In addition, Executive Director Sekhar Rao also resigned, citing personal reasons and inability to relocate to Mangaluru. His resignation will take effect from 31 July 2025.
What Happens Next?
To find a permanent MD, CEO, and Executive Director, the Karnataka Bank board has set up a search committee. The bank has also confirmed that Bhat is not barred by SEBI or any other authority, and he is not related to any of the current directors. The bank is expected to maintain stability while the search for new leadership continues.
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