Correction — 6 November 2026: This archived report has been rewritten around Karnataka Bank’s 29 June 2025 exchange filing. The earlier version incorrectly placed the resignations on Saturday and presented allegations and a market-price decline without adequate supporting documents. Those unsupported statements have been removed. The original publication date is retained.
Karnataka Bank announced on 29 June 2025 that its board had accepted the resignations of managing director and chief executive Srikrishnan Hari Hara Sarma and executive director Sekhar Rao. The announcement gave different effective dates: 15 July for Sarma and 31 July for Rao.
The bank attributed the decisions to personal circumstances, including relocation. It also announced a search committee for successors and interim operational arrangements. These were the bank’s statements at the time, rather than findings independently established by Blooming 9 News.
What the filing supports
The exchange announcement establishes that the board accepted the resignations and set out transition plans. It does not, by itself, establish wrongdoing or explain a particular day’s share-price movement. This report no longer treats those inferences as confirmed facts.
Reading an archived leadership announcement
A resignation-announcement date differs from the date an executive leaves office. Both differ from the appointment date of a successor. Readers using historical reports should distinguish those events and consult later filings for subsequent changes.
This is a record of the June 2025 announcement, not a statement of the bank’s current management or a recommendation to buy or sell its shares.
Primary source: Karnataka Bank’s 29 June 2025 press release filed with NSE.
