Karnataka Bank

D & CEO Srikrishnan Hari Hara Sarma steps down, followed by ED Sekhar Rao’s resignation. New COO Raghavendra Bhat takes charge from July 2. Board forms committee to identify new leadership and seek regulatory nod for interim appointments. What triggered the exits? Auditors flagged ₹1.53 Cr in expenses made without board approval — including consultancy fees and capital outlays. Emphasis of matter added in FY25 accounts. Bank claims issue “resolved amicably” — but are deeper board-management tensions at play?