Karnataka Bank Limited announced the appointment of Sekhar Rao as interim Managing Director and Chief Executive Officer of the bank, with effect from April 15, 2023.
According to the bank’s exchange filing, “we wish to inform you that the Reserve Bank of India vide its letter dated 12.04.2023 has conveyed approval for appointment of Mr. Sekhar Rao, Executive Director of the Bank as interim Managing Director & CEO for a period of three months with effect from April 15, 2023 or till the appointment of a regular MD & CEO, whichever is earlier.”
Sekhar Rao is a post graduate in Business Administration and a BE (Chemical), who has 29+ years of overall work experience across various sectors such as Banking, Information Technology, Payment and Settlement Products, Business Management, Strategy & Operations, of which 19 years in the BFSI sector. He also has an experience of 10+ years in CXO roles reporting to MD & CEO and Board Committees.
Prior to joining Karnataka Bank, he has been associated with a fintech – Savvy India as the co-founder and a director from April 2020. He was also associated with CSB bank Ltd as the Head – Operations & IT for about six years. Earlier, he has worked with RBL Bank Ltd, ING Vysya Bank Ltd, ICICI Bank Ltd., Asian Paints (I) Ltd., Goodlass Nerolac Paints Ltd., (now Kansai Nerolac Paints Ltd) in various capacities.
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