The Karnataka Bank Limited has informed the Exchange regarding Resignation of Resignation of Executive Director - Mr. Sekhar Rao as Executive Director of the company w.e.f. July 31, 2025.
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Karnataka Bank has informed the exchanges that Mr. Sekhar Rao, Executive Director of the bank, has resigned due to personal reasons. He cited the challenge of spending considerable time in Mangaluru or relocating there from Bengaluru. The Board accepted the resignation on June 29, 2025, with his last working day set as July 31, 2025. Mr. Sekhar Rao held DIN 06830595 and had been serving as Executive Director of the bank. The announcement has been made under SEBI LODR Regulation 30 read with Schedule III, and a copy of his detailed resignation letter has been submitted to the exchanges.
A top-level management exit at a public-sector bank may create short-term uncertainty around leadership continuity, though the cited reason is personal and unrelated to governance or performance issues. Shareholders should watch for timely appointment of a replacement Executive Director, as regulatory approvals from RBI will be required for any new candidate.