Mr. Sekhar Rao has assumed charge as Executive Director of Karnataka Bank from February 1, 2023.
He will hold office for a period of three years from 01.02.2023 on the terms and conditions including remuneration as approved by Reserve Bank of India.
The appointment is subject to the shareholders' approval at the next Annual General Meeting or within a period of three months from the date of taking charge, whichever is earlier.
Mr. Sekhar Rao has 29+ years of overall work experience, of which 19 years in BFSI sector, specifically in Banking, Information Technology, Payment and Settlement Products, Business Management, Strategy & Operations. He has 10+ years of experience in CXO roles reporting to MD & CEO and Board Committees. He has been in Banking since July 2003.
Shares of The Karnataka Bank Limited was last trading in BSE at Rs. 138.45 as compared to the previous close of Rs. 143.45. The total number of shares traded during the day was 207021 in over 3948 trades.
The stock hit an intraday high of Rs. 147.85 and intraday low of 135.80. The net turnover during the day was Rs. 29554470.00.