Sekhar Rao Was Appointed As Interim CEO and MD Of Karnataka Bank  

Karnataka Bank CEO

On Wednesday, the Reserve Bank of India approved the appointment of Sekhar Rao for Mangaluru-based private lender Karnataka Bank. Sekhar Rao is appointed as Executive Director of the bank as Interim Managing Director and Chief Executive Officer. 

The duration of the appointment is for 3 years, which started on April 15, 2023. The appointment will be valid until a regular Chief Executive Officer and Managing Director is appointed for the bank. 

The appointment of a new Managing Director and CEO was necessary as Mahabaleshwara M.S., the former CEO and MD of Karnataka Bank, left his position on April 14, 2023. Karnataka Bank has finalized a target of achieving a growth of 17.69% for reaching Rs 1,75,000 crore business turnover in this financial year. 

Previously, the provisional figure of Karnataka Bank’s business turnover was Rs 1,48,694 crore. The growth rate was 7.63%. This figure includes deposits of Rs 87,362 crore and advances amounting to Rs 61,326 crore.  

Karnataka Bank CEO & MD – FAQS

Q1: Who is the MD of Karnataka Bank?

Ans: The current MD of Karnataka Bank is Mr Sekhar Rao for a period of 3 years. 

Q2: Who is the CEO of Karnataka Bank 2023?

Ans: On January 13 of 2023 in Mangalore, subject to shareholder approval, private sector lender Karnataka Bank Ltd. has named Mr Sekhar Rao as an Additional Director to assume the position of Executive Director of the Bank for a period of three years beginning on the day of taking control.

Q3: Who was reappointed as MD and CEO of Karnataka Bank?

Ans: Shri Mahabaleshwar M.S. completed his first term of three years as MD & CEO of Karnataka Bank on April 15, 2017. After successfully completing his first term, RBI re-appointed him for the next three years term as MB and CEO of Karnataka Bank. 


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