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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Pune airport runway restored after IAF aircraft snag; ops resume
Pune (PTI): The runway at Pune airport, which was temporarily unavailable due to an incident involving an Indian Air Force (IAF) aircraft, has now been restored and declared operational, the Air Force said on Saturday.
The authorities at the Pune International Airport had earlier said that around 10.25 pm on Friday, a fighter aircraft experienced an undercarriage failure during landing, causing the runway to be blocked.
As many as 91 flights of airlines, including IndiGo, Air India, SpiceJet, Akasa, and Air India Express, were affected due to the incident, they said.
Earlier on Friday night, the Air Force had stated that the runway at Pune airport was temporarily unavailable following an incident involving one of its fighter aircraft. The aircrew are safe, and there is no damage to civil property, it had said.
"The runway at Pune Airport, which was temporarily unavailable due to an incident involving an Indian Air Force aircraft, has now been restored and declared operational. All necessary safety inspections and clearances have been completed. Operations are resuming in a phased manner," it said in a post on X.
Flight operations at Pune airport are being gradually restored. The situation has been brought under control with the highest priority given to the safety of citizens, a Defence PRO said.
