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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NEET student hangs self in Rajasthan's Sikar
Jaipur (PTI): A student preparing for the NEET examination allegedly committed suicide by hanging himself in a rented room in Rajasthan's Sikar on Friday, police said.
According to the police, the student allegedly hanged himself from a ceiling fan using his sister's scarf while one sister was attending coaching classes and the other was in the bathroom.
He had appeared in the NEET UG exam 2026, which was cancelled due to paper leak, they said.
Udyog Nagar SHO Rajesh Kumar said that the deceased, identified as Pradeep Meghwal, was a resident of Kanika ki Dhani village in Jhunjhunu's Gudha Gaudji area.
He had been living in a rented room in Sikar's Jaldhari Nagar area with his two sisters while preparing for NEET over the last three years.
His elder sister later found him hanging and informed the landlord and police after bringing him down, officials said.
The SHO said the body was kept at SK Hospital mortuary, and a postmortem had not been conducted.
The student's father, Rajesh Kumar Meghwal, told police that Pradeep's NEET examination had gone well and the family was expecting him to score around 650 marks.
Former Rajasthan deputy chief minister Sachin Pilot expressed grief over the incident and linked it to anxiety among students after reports of irregularities and paper leaks in NEET 2026.
Pilot said repeated paper leak incidents and cancellation of examinations were affecting students' mental health and demanded a time-bound investigation and strict action against those responsible.
