Karnataka Bank shareholders approved the appointment of M/s. Batliboi & Purohit, Chartered Accountants, as Joint Statutory Auditors for a period of three years at the 102nd Annual General Meeting held on September 22, 2026.

The appointment, effective from the conclusion of the 102nd AGM until the 105th AGM, was approved with 99.89% votes in favor. This decision follows Reserve Bank of India approval conveyed via letter CO.DOS.RPD.No.: S3635/08.11.005/2026-27 dated August 11, 2026.

Auditor transition details

M/s. Batliboi & Purohit will serve jointly with the existing auditor, M/s. R.G.N. Price & Co., Chartered Accountants. M/s. R.G.N. Price & Co. will continue to hold office until the conclusion of the 103rd Annual General Meeting. The meeting also fixed the remuneration for the newly appointed auditors.

Other governance approvals

The e-voting process, facilitated by Central Depository Services (India) Limited, remained open from September 18 to September 21, 2026. The scrutinizer’s report confirmed that all ordinary and special resolutions passed with the requisite majority under the Companies Act, 2013.

Shareholders adopted the audited standalone and consolidated financial statements for FY26 with 99.89% votes in favor. The final dividend for the fiscal year was also approved by a significant margin, with 99.60% of votes supporting the payout.

Director appointments and re-elections

The AGM addressed several leadership changes. Mr. B R Ashok was re-appointed as a director, though this resolution saw a lower approval rate of 78.26%, with 21.74% of votes cast against the motion. This stands in contrast to other resolutions which garnered near-unanimous support.

New appointments included:

• Mrs. Bijji Sreekrishnavilas Sankaranarayanan as Executive Director (99.02% approval)
• Dr. M Aruna Shyam as Non-Executive Independent Director (99.87% approval)
• Mr. Parthasarathi Periaswamy as Non-Executive Independent Director (99.86% approval)

What the numbers show

A distinct divergence appears in shareholder sentiment regarding board composition. While routine matters like financial statements and auditor appointments achieved near-unanimous consent (>99%), the re-appointment of Mr. B R Ashok faced significant dissent, with over one-fifth of voting shares opposing the motion. This suggests specific shareholder concerns regarding this particular director's tenure or performance, unlike the broader consensus seen in other governance decisions.

Karnataka Bank has promoted six senior officials from the Assistant General Manager cadre to the Deputy General Manager cadre. The promotions take effect from September 19, 2026.

The bank made the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to both the National Stock Exchange of India Limited and BSE Limited.

Senior Management Changes

The following six officials have been elevated to the Deputy General Manager position:

• Mr. Akshayaraj Ramakrishna Rao
• Mr. Adiga Praveen Chakrapani
• Mr. Danish
• Mr. Krishna Prasad KJ
• Mr. Jayaprakash Udupa H
• Mr. Vishwanath S R

All six individuals previously held the designation of Assistant General Manager. Upon promotion, they are classified as Senior Management Personnel of the bank with effect from September 19, 2026.

Official Profiles

The bank provided brief profiles for each promoted official in the annexure to the regulatory filing. The details highlight their educational backgrounds and tenure within the organization.

The officials have worked across various branches and offices of the bank in India. Their career progression spans from clerical roles to the Assistant General Manager level before this latest promotion.