Karnataka Bank seeks member approval for new MD & CEO

Karnataka Bank is seeking member approval for the appointment of Raghavendra Srinivas Bhat as managing director and ceo for a one-year term starting November 16, 2025, through a postal ballot using remote e-voting. The proposed remuneration for Bhat includes a fixed annual pay of ₹2,25,00,720, comprising a basic salary of ₹1,44,96,000, dearness allowance of ₹28,99,200, and various other fixed allowances and perquisites.

Additionally, Bhat's compensation package includes a variable pay component of up to ₹225 Lakhs for FY 2025-26, split equally between cash and non-cash components. The total proposed compensation (fixed plus variable pay) is up to ₹450 Lakhs. Bhat, 67, holds qualifications in B Com and CAIIB, bringing 38 years of experience within Karnataka Bank.

The e-voting period for this resolution will commence on Wednesday, December 24, 2025, at 09:00 AM IST and conclude on Thursday, January 22, 2026, at 05:00 PM IST. Results are expected to be announced on or before Saturday, January 24, 2026. This process adheres to SEBI and Companies Act regulations, with the bank engaging NSDL for e-voting facilitation.