Karnataka Bank appoints Sekhar Rao as interim CEO

Tags: Economy/Finance Person in news

Karnataka Bank has appointed Sekhar Rao as the interim Managing Director and CEO after the completion of the tenure of the current CEO.

An overview of the news

• Mahabaleshwar M S, the current Managing Director and Chief Executive Officer (MD and CEO) of Karnataka Bank, left the office on April 14 after the successful completion of his second term of three years.

• Rao takes over as interim MD & CEO with effect from April 15, 2023, subject to RBI approval on April 12, 2023.

• He has been appointed for a period of three months or till the appointment of a regular MD and CEO, whichever is earlier.

About Karnataka Bank

• It is'A' Class Scheduled Commercial Bank in India.

• It was incorporated on February 18th, 1924 at Mangaluru.

• Headquarter - Mangaluru