Private Sector lender Karnataka Bank Ltd. has appointed Mr. Sekhar Rao as an Additional Director to take up the role of Executive Director of the Bank for a period of three years effective from the date of taking charge, subject to approval of the shareholders.
Mr. Sekhar Rao has 29+ years of overall work experience across various sectors such as Banking, Information Teclmology, Payment and Settlement Products, Business Management, Strategy & Operations, of which 19 years in the BFSI sector. He also has an experience of 10+ years in CXO roles reporting to MD & CEO and Board Committees.
His areas of experience include setting up and managing centralized operation units and teclmology teams, consulting for projects in business strategy and banking operation, managing the digital / alternate channels of Banks, setting up of new business verticals, distribution chaimels, branch network expansion, managing large network of Branches & Business Units and setting up and scaling a Fintech start-up.
Prior to joining our Bank, he has been associated with a fintech - Savvy India as the co-founder and a director from April 2020. He was also associated with CSB bank Ltd as the Head - Operations & IT for about six years. Earlier, he has worked with RBL Bank Ltd, ING Vysya Bank Ltd, ICICI Bank Ltd., Asian Paints (I) Ltd., Goodlass Nerolac Paints Ltd., (now Kansai Nerolac Paints Ltd) in various capacities.
On the occasion, Mr. Mahabaleshwara MS, Managing Director & CEO said: "We welcome Mr. Sekhar Rao on our Board. He brings with him rich experience from multiple sectors such as Banking, Information Technology, sh·ategy, operations and also fintech. We look forward to working closely with him and we wish him good luck in his new assignment."
Shares of The Karnataka Bank Limited was last trading in BSE at Rs. 149.70 as compared to the previous close of Rs. 148.75. The total number of shares traded during the day was 43870 in over 1068 trades.
The stock hit an intraday high of Rs. 150.75 and intraday low of 148.50. The net turnover during the day was Rs. 6567353.00.