Private sector lender Karnataka Bank on Friday appointed Srikrishnan Hari Hara Sarma as managing director and chief executive officer of the bank for a period of three years.
The appointment is subject to the shareholders’ approval at the next Annual General Meeting or within a period of three months from the date of assuming charge, whichever is earlier, Karnataka Bank said in a regulatory filing.
Pursuant to the approval received from the Reserve Bank of India, the Board of Directors at its meeting held on Thursday has appointed Sarma as an additional director to take up the role of MD and CEO, the bank said.
With this appointment, there would be 11 directors on the board of the bank, it said. Of which, 8 are independent directors constituting 73 percent of the board, including one woman independent director, it said. Sarma has nearly four decades of experience spread across commercial, retail, and transactional banking, technology and payments.
At HDFC Bank, he was part of the founding management team, for over 9 years, and as the country head of transactional banking and operations, was involved in setting up the bank's corporate and retail banking, treasury, and capital markets infrastructure business. He later joined Yes Bank.
At Jio Payments Bank, as MD and CEO, he was responsible for the application and coordination for approval of license with the RBI, incorporation of the company, formation of the board, strategic direction, and commencement of operations in 2018.
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(Edited by : Pradeep John)
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