Board of Directors of Karnataka Bank accepts resignation of its MD, Executive Director
Mangaluru (Press Release) - Karnataka Bank on Saturday announced the resignation of its Managing Director & CEO, Srikrishnan Hari Hara Sarma, and Executive Director, Sekhar Rao. The bank's Board of Directors has formally accepted their resignations, effective July 15 and July 31 respectively.
According to the statement, Sarma, is stepping down due to personal reasons, including a decision to relocate to Mumbai. Rao, meanwhile, cited his inability to relocate to the bank’s headquarters in Mangaluru, along with personal constraints, as the reason for his exit.
In response, the bank has constituted a Search Committee tasked with identifying suitable candidates for the posts of MD & CEO as well as Executive Director.
To ensure continuity in operations, a senior banker has been appointed as the Chief Operating Officer (COO), who will take charge on July 2.
Additional interim arrangements are also being made, subject to regulatory approvals, read the statement.
The bank also addressed concerns regarding a note in the audited financial statements for FY2025 that led to an “Emphasis of Matter” in the Auditor’s Report. The bank stated that the matter had been discussed and amicably resolved, without elaborating further.
Reassuring stakeholders, Karnataka Bank maintained that it remains well-capitalised and operationally sound. “The transformational journey embarked upon by the Bank will continue unhindered,” the official release stated.
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Karnataka: Home Department asks motorists to drive on highways with caution to avoid robbery
Belagavi: The Home Department has advised motorists to stay alert while travelling on national and state highways, warning that gangs involved in robbery and extortion have been active in several stretches. It said people should be extra cautious if anyone tries to stop their vehicle in isolated areas.
Replying to an unstarred question on Thursday, the department said Karnataka has recorded 403 highway robbery cases in the past three years. According to the data, national highways saw 81 extortion and 23 robbery cases in 2023, followed by 66 extortion and 16 robbery cases in 2024. Until November 15 this year, 51 extortion and 14 robbery cases have been reported.
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On state highways, 39 extortion and 17 robberies were reported in 2023, while 2024 saw 35 extortion and 22 robbery cases. In 2025 so far, 20 extortion and 19 robbery cases have taken place. The department noted that curbing highway robberies remains a major challenge for the police.
To tackle the issue, police stations have been directed to set up regular checkpoints on stretches of highways passing through their limits. Suspicious individuals and vehicles are being checked. Two-wheelers have been allocated to every station for night patrol, and staff have been instructed to conduct night rounds using vehicles fitted with sirens and red lights.
