Mangaluru-based private lender Karnataka Bank on Wednesday said the Reserve Bank of India (RBI) has approved the appointment of Sekhar Rao, executive director of the bank as interim managing director and chief executive officer.
The appointment is for a period of three months with effect from April 15, 2023, or till the appointment of a regular managing director and chief executive officer, whichever is earlier, the bank said in an exchange filing.
The appointment is in view of the completion of the term of office of Mahabaleshwara M S, managing director and chief executive officer of the bank on April 14, 2023, it said.
The bank plans to achieve a growth of 17.69 percent in its centenary year of 2023-24 to take its total business turnover to Rs 1,75,000 crore.
As per the provisional numbers, the business turnover of the bank stood at Rs 1,48,694 crore with a growth rate of 7.63 percent, comprising deposits of Rs 87,362 crore and advances of Rs 61,326.00 crore.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024 Phase 5: Over 10% voter turnout recorded till 9 am on 49 seats in 8 states, UTs
May 20, 2024 10:30 AM
Lok Sabha Election 2024: Is it mandatory for employers to give paid holiday on voting day? | Explained
May 20, 2024 10:07 AM
Lok Sabha Elections 2024 | How critical is Phase-5 for both NDA and I.N.D.I.A
May 20, 2024 7:30 AM