Latest News on Karnataka Bank
Karnataka Bank is in immediate need of a long-term Chief Executive Officer to fill its current leadership vacancy.
The Mangaluru-based private sector lender has been without a full-time chief executive for the past three months. This leadership vacuum comes at a critical time for the bank, which is struggling with worrying financials. Finding a suitable successor to fill the top position is of utmost importance, as the bank’s future depends on it.
The bank’s financial performance has been a cause for concern, with several key indicators pointing to a decline in its overall health. The lack of a full-time CEO has only added to the uncertainty, making it essential for the bank to find a replacement as soon as possible. The new CEO will have to hit the ground running, addressing the bank’s financial woes and implementing a turnaround strategy to restore stability and growth.
The search for a new CEO is a challenging task, requiring careful consideration of various factors, including the candidate’s experience, expertise, and leadership style. The bank’s board of directors must weigh the options carefully, ensuring that the chosen candidate has the necessary skills to navigate the complex banking landscape and drive the bank towards recovery.
The bank’s financial struggles are a symptom of a broader issue, highlighting the need for a comprehensive overhaul of its operations and strategies. The new CEO will have to conduct a thorough review of the bank’s business model, identifying areas of inefficiency and implementing reforms to improve profitability and competitiveness.
Furthermore, the bank must also address concerns around governance and risk management, which have been compromised in recent times. The new CEO will have to restore stakeholder confidence, ensuring that the bank is operating with transparency and accountability.
In conclusion, finding a suitable successor to the CEO position is crucial for the bank’s survival and growth. The new CEO will have to tackle the bank’s financial challenges head-on, implementing a transformative strategy to restore stability and drive growth. The bank’s board of directors must prioritize the search for a new CEO, ensuring that the chosen candidate has the necessary expertise and leadership skills to navigate the complex banking landscape and drive the bank towards a brighter future. With the right leadership in place, the bank can overcome its current challenges and emerge stronger and more resilient.
Raja B S assumes the role of Chief Operating Officer at Karnataka Bank, marking a new leadership era for the institution.
Karnataka Bank Ltd. has appointed Mr. Raja B. S. as its new Chief Operating Officer (COO) in the rank of Chief General Manager (CGM) on a contract basis for a period of two years, effective from September 4, 2025. Mr. Raja B. S. has a long and distinguished career with the bank, joining as a Probationary Officer on July 17, 1990. He has held various positions within the bank, including branch head, chief manager, and regional head, working in different locations such as Hindupur, Turuvekere, and Bengaluru.
Throughout his career, Mr. Raja B. S. has gained extensive experience in various departments, including vigilance, HR, and credit sales. He was promoted to General Manager (Scale VII) on March 29, 2021, and has since handled numerous portfolios, including branch banking, HR, credit marketing, and operations. Prior to his new appointment, he was in charge of the Branch Banking Department and held additional charge of the Operations Department.
Interestingly, Mr. Raja B. S. had opted for voluntary retirement from the bank’s services on September 3, 2025, just a day before his new appointment as COO. His appointment as COO is seen as a significant development for the bank, and his vast experience and expertise are expected to contribute to the bank’s growth and success. As COO, Mr. Raja B. S. will play a crucial role in overseeing the bank’s operations and driving its strategic initiatives forward. With his deep understanding of the bank’s inner workings and his proven leadership abilities, he is well-positioned to make a positive impact in his new role.
Karnataka Bank Head Offers Reassurance on Stability, Promises Steady Growth in Mangaluru
Raghavendra S Bhat has taken over as the new Managing Director and CEO of Karnataka Bank, assuming charge at the bank’s corporate headquarters in Mangaluru. In his inaugural address, Bhat alleviated concerns about the bank’s stability, emphasizing that it remains “fundamentally strong” with a consistent track record of profitability and dividend declarations since its inception. This achievement is notable in the Indian banking sector, where few institutions can claim such a streak.
Bhat outlined his immediate goals, aiming to increase the bank’s business turnover from Rs 1.8 lakh crore to Rs 2 lakh crore. He expressed his commitment to acting in the best interest of the bank and its stakeholders, indicating a dedication to growth and sustainability. Addressing speculation about potential changes, Bhat firmly denied any plans to relocate the bank’s headquarters from Mangaluru or to alter its name, citing the institution’s pride in its regional roots and legacy.
With nearly four decades of service at Karnataka Bank, Bhat’s career trajectory is a testament to his dedication and ascent within the organization. Starting as a clerk in 1981, he progressed through the ranks to become Chief General Manager and Chief Operating Officer before his retirement in 2019. His return to the institution is marked by a sense of pride and a deep understanding of the bank’s values and mission.
Bhat called for collective support from both employees and customers, underscoring the bank’s commitment to supporting crucial sectors such as agriculture and MSMEs (Micro, Small, and Medium Enterprises). His vision emphasizes continuity and growth, building on the bank’s existing strengths while navigating future challenges. By doing so, Bhat aims to reinforce Karnataka Bank’s position as a stalwart in the Indian banking landscape, leveraging its unique history and regional presence to drive success.
Stock Market Updates of Karnataka Bank
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Bank employee in Karnataka arrested for taking loan against stolen gold worth 3.6kg
A staff member of Karnataka Bank has been arrested for allegedly stealing 3.6 kilograms of gold from the bank’s vault and using it as collateral to take out a loan. The incident occurred at the bank’s Jayanagar branch in Bengaluru. The accused, identified as Deepak, was a chief manager at the bank.
According to the police, Deepak had been working at the bank for several years and was aware of the security protocols in place. He allegedly stole the gold from the vault over a period of time, using his knowledge of the bank’s internal procedures to avoid detection.
Once he had stolen the gold, Deepak allegedly used it as collateral to take out a loan from another bank. The police have not disclosed the amount of the loan, but it is believed to be substantial.
The theft was discovered when a routine audit was conducted at the bank. The auditors found that a significant amount of gold was missing from the vault, and an investigation was launched. The police were called in, and after reviewing the CCTV footage and conducting inquiries, they identified Deepak as the prime suspect.
Deepak was arrested and charged with theft and cheating. The police have recovered 2.5 kilograms of the stolen gold, and efforts are underway to recover the remaining 1.1 kilograms. The bank has also launched an internal investigation into the incident and has suspended Deepak from his duties.
The incident has raised concerns about the security measures in place at the bank. The police have said that the theft was an “inside job” and that Deepak had taken advantage of his position to carry out the crime. The bank has assured customers that their deposits are safe and that it is taking steps to strengthen its security protocols.
The incident is a significant blow to the bank’s reputation, and it is likely to face scrutiny from regulatory authorities. The bank has promised to cooperate fully with the investigation and to take action against anyone found to be involved in the theft. The case is a reminder of the importance of strong internal controls and vigilant security measures to prevent such incidents from occurring.
SBI Axes Rs 1 Crore Air Accident Insurance for Select Customers from July Onwards
SBI Card has announced significant changes to its credit card policies, effective July 15, 2025, which will impact both premium and co-branded credit card users. One of the major changes is the discontinuation of complimentary air accident insurance on several cards. This means that cardholders will no longer receive automatic air accident insurance, a previously valuable feature for frequent flyers. The affected cards include SBI Card Elite, SBI Card Miles Elite, and Miles Prime, which will lose their Rs 1 crore coverage, as well as SBI Card Prime and Pulse, which will lose their Rs 50 lakh coverage.
In addition to the removal of air accident insurance, SBI Card will also update its minimum payment calculation formula. Starting July 15, the Minimum Amount Due (MAD) will be calculated as 100% of GST, EMI amounts, fees and charges, finance charges, and any over-limit amounts, plus 2% of the remaining outstanding balance. This change is likely to increase the minimum payable amount, especially for those with high EMIs or charges.
Another significant change is the revised order of payment settlement. From July 15, SBI will adjust payments in the following order: GST, EMIs, fees/charges, finance charges, balance transfers, retail purchases, and cash advances. This change will impact how interest is charged and how quickly cardholders can reduce their costliest debts.
Co-branded cards will also be affected by these changes. From August 11, 2025, cards with Rs 1 crore coverage, such as the UCO Bank SBI Card ELITE and Central Bank of India SBI Card ELITE, will lose their air accident insurance benefit. Cards with Rs 50 lakh coverage, including PRIME variants from South Indian Bank, Karnataka Bank, and Allahabad Bank, will also be affected.
Cardholders are advised to review their statements carefully and adjust their financial plans accordingly. The loss of insurance coverage and changes in payment processing could have significant implications for how much users pay and what protections they receive. It is essential for cardholders to understand these changes and plan their finances accordingly to avoid any unexpected charges or losses. Overall, these changes will require cardholders to be more mindful of their credit card usage and payment habits to minimize their costs and maximize their benefits.
Karnataka Bank makes key changes to its board leadership
Karnataka Bank Ltd, a public sector lender, has announced changes in its senior management. Mr. Ramesh Bhat, General Manager and Head of Credit Monitoring Department, has retired from the bank after attaining superannuation, effective March 31, 2025. As a result, Mr. Nagaraja Upadhyaya B, General Manager, will assume charge as Head of the Credit Monitoring Department on April 1, 2025.
Mr. Upadhyaya B, who joined the bank in 1996 as a clerk, has held various positions, including Branch Head, Regional Head of the Hyderabad and Tumakuru Regions, and Head of the Credit Marketing Department at Mangalore. Currently, he is working as the General Manager and is in charge of the Bengaluru Region. With his new appointment, he will also be a Senior Management Personnel of the Bank.
With Mr. Bhat’s retirement, he ceased to be a Senior Management Personnel of the Bank. The changes are aimed at ensuring a smooth transition and maintaining the bank’s operational efficiency. The new appointment demonstrates the bank’s commitment to promoting from within and developing its talent pool. The development is significant, and it will be interesting to see how the new leadership shapes the bank’s future initiatives and strategies.
Karnataka Bank SO recruitment 2025: Online applications open for CA, IT, and Law professionals – apply now and accelerate your career!
Karnataka Bank has announced recruitment for various positions of Chief Auditors (CA), IT, and Law professionals. The bank is seeking applications from qualified and experienced candidates for these roles. The application process for these positions has begun, and interested candidates can apply online on the official website of Karnataka Bank.
The jobs available under this recruitment drive include:
* Chief Auditors (CA): The bank is looking for Chartered Accountants with a strong background in auditing and a minimum of 5 years’ experience in the same field.
* IT Professionals: The bank requires IT professionals with a minimum of 2 years’ experience in the banking and IT industry, with expertise in areas such as digital banking, Bank’s core banking solution, and banking software applications.
* Law Professionals: The bank is seeking advocates with a minimum of 5 years’ experience in the field of banking laws, contractual laws, and other allied laws.
To be eligible, the candidates must possess the following qualifications and experience:
* For CA position: A Chartered Accountant (CA) degree from the Institute of Chartered Accountants of India (ICAI)
* For IT position: A Bachelor’s degree in Computer Science/IT or relevant field, and a minimum of 2 years of experience in the banking and IT industry
* For Law position: A law degree from a recognized university, and a minimum of 5 years of experience as an advocate
The selection process will consist of an online written test, followed by an interview. The test will assess the candidates’ knowledge, skills, and aptitude for the respective roles.
Candidates can apply online by visiting the Karnataka Bank website and following the instructions provided. The last date for submitting the application will be announced soon. The bank also expects candidates to attach their resume, ID proof, and educational certificates.
For further details on the recruitment process, eligibility criteria, and application procedure, candidates can refer to the Karnataka Bank’s official website or contact their nearest branch. It is essential to note that the bank will communicate with the candidates through SMS and/or email regarding the further details of the recruitment process.