Karnataka Bank appoints Sekhar Rao as interim MD and CEO

Karnataka Bank, a private bank located in Mangaluru, has received approval from the Reserve Bank of India (RBI) to appoint SekharRao, the bank’s executive director, as the interim Managing Director (MD) and Chief Executive Officer (CEO). The appointment is for a duration of three months starting from April 15, 2023, or until the appointment of a regular MD and CEO, whichever comes first. The reason for this appointment is the conclusion of the term of office of Mahabaleshwara M S, the current MD, and CEO, on April 14, 2023. The announcement was made in a filing with the stock exchange.