Karnataka Bank appoints Mrs. Uma Shankar as Additional Director

Private Sector lender Karnataka Bank Ltd. has appointed Mrs. Uma Shankar as Additional Director (Non-Executive, Independent) at its Board Meeting held on October 13, 2020 and the appointment will be effective from November 1, 2020.

Mrs. Uma Shankar, is a former Executive Director of Reserve Bank of India. She was with RBI for over 37 years in different capacities. Her core competence is in the financial sector supervision but she has also been responsible for currency management, foreign exchange and the internal accounting and administration.

After completing her Post-Graduation in English Literature, she joined the RBI as a Direct Recruit officer. She is also a Certified Associate of the Indian Institute of Bankers (CAIIB) and has had Executive Education at Columbia Business School, New York (2009 alumni). She was also on the boards of few Public Sector Banks as RBI nominee.

On the occasion, Mr. Mahabaleshwara M S, Managing Director & CEO said: "We welcome Mrs. Uma Shankar to our Board. With her induction, eight out of eleven Directors are Independent Directors and there will be two women Directors on the Board of the Bank. She brings her rich Banking experience, which is expected to provide a great value addition at the Board level."

Shares of KARNATAKA BANK LTD. was last trading in BSE at Rs.42 as compared to the previous close of Rs. 41.9. The total number of shares traded during the day was 68046 in over 335 trades.

The stock hit an intraday high of Rs. 42.6 and intraday low of 41.8. The net turnover during the day was Rs. 2866532.

Source : Equity Bulls

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