Raghavendra Srinivas Bhat, MD and CEO of Karnataka Bank.
The appointment follows the approval of the Reserve Bank of India (RBI) in its letter dated November 14, 2025. The bank’s Board of Directors, in its meeting on Saturday, confirmed the appointment of Raghavendra Srinivas Bhat as MD and CEO of the bank for a period of one year with effect from November 16, 2025.
On July 14, the Board of Directors of Karnataka Bank had appointed Bhat as Additional Director in the capacity of Managing Director and CEO of the bank for a period of three months with effect from July 16, 2025, following the resignation of the then MD and Executive Director (ED).
On October 4, the bank informed the stock exchanges that the RBI had granted an extension for a period of one month from Bhat’s tenure as MD and CEO of the bank for a period of one month with effect from October 16, 2025.
It is to be noted that the board had accepted the resignation of Srikrishan Hari Hara Sarma as MD and CEO on June 29. The resignation took effect on July 15, 2025. Sarma had cited personal reasons for his resignation, including his decision to move to Mumbai.
Sekhar Rao, who was ED of the bank, submitted his resignation on June 29, citing his inability to shift to Mangaluru and other personal reasons. His resignation became effective on July 31, 2025.
To ensure continuity of operations following the departure of the bank’s top level, Bhat was appointed as the bank’s Chief Operating Officer (COO) on July 2. Bhat had retired as Chief General Manager of the bank.
The bank told stock exchanges that Bhat had a 38-year career with Karnataka Bank, starting as a clerk in 1981. Over the years, he rose through the ranks and eventually served as COO in the CGM cadre until 2019.
With extensive expertise in various domains, Bhat’s professional journey spans banking, finance and also agriculture. During his tenure at Karnataka Bank, he covered all key areas of banking and finance including HR, IT and digital banking, treasury and forex operations, insurance (third party products) and rural economics.
Having held top management positions for more than a decade, his leadership and vision have been crucial in shaping strategic decisions at the highest levels, the bank said.
Published on November 15, 2025
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