Karnataka Bank has completed the dispatch of its postal ballot notice seeking shareholder approval for the appointment of Mr. Raghavendra Srinivas Bhat as Managing Director and Chief Executive Officer. The bank notified stock exchanges on December 23, 2025, about the completion of the postal ballot dispatch process and published newspaper advertisements to inform shareholders about the e-voting procedure.

Postal Ballot Process and Timeline

The bank completed the dispatch of postal ballot notices on December 22, 2025, through email to all eligible shareholders. The voting will be conducted exclusively through remote e-voting via NSDL, with no physical postal ballot forms being distributed to shareholders.

Advertisement and Communication

The bank published newspaper advertisements on December 23, 2025, in the Financial Express (English) and Vijaya Karnataka (Kannada) to inform shareholders about the e-voting process. The postal ballot notice has been made available on the bank's website and stock exchange platforms for easy access by shareholders.

Appointment and Compensation Structure

Mr. Raghavendra Srinivas Bhat's appointment as MD-CEO is proposed for a one-year term effective from November 16, 2025, following RBI approval. The comprehensive compensation package includes both fixed and variable components structured according to banking regulations.

Fixed Pay Components

Variable Pay Structure

Professional Background and Qualifications

Mr. Bhat brings 38 years of extensive banking experience to the role, having joined Karnataka Bank as a Clerk in 1981. He progressively rose through the ranks to serve as Chief Operating Officer in the CGM cadre in 2019. His expertise spans banking operations, treasury management, digital banking, risk management, and rural economy initiatives.

He has been serving as interim MD-CEO since July 16, 2025, following RBI approvals for temporary appointments. His educational qualifications include B.Com and CAIIB certifications, providing him with strong foundational knowledge in banking and finance.

Regulatory Compliance and Scrutinizer Details

The appointment has received RBI approval under Section 35B of the Banking Regulation Act, 1949. The postal ballot process complies with Companies Act 2013 provisions and SEBI listing regulations. The bank has appointed CS. Ullas Kumar Melinamogaru (Membership Number: F6202, COP Number: 6640) as the primary scrutinizer, with CS. Namrath Kottary as the alternate scrutinizer for the e-voting process.

Eligible shareholders whose email addresses are registered with depositories or the bank have received the postal ballot notice electronically. The resolution, if passed, will be deemed effective from the last date of voting, January 22, 2026.

Karnataka Bank , a prominent player in India's banking sector, has announced a significant change in its top leadership. The bank's Board of Directors has appointed Mr. Raghavendra S Bhat as the new Managing Director & CEO, effective November 16, 2025. This appointment, which follows approval from the Reserve Bank of India, marks a new chapter in the bank's leadership.

Key Details of the Appointment

Career Highlights and Experience

Mr. Bhat brings a wealth of experience to his new role, having served in the banking industry for many years. His appointment brings extensive banking expertise across various critical areas:

• Human Resources
• IT & Digital Banking
• Treasury & Forex Operations
• Rural Economy

Areas of Expertise

Mr. Bhat's extensive experience spans several critical areas of banking and finance, positioning him well to lead Karnataka Bank's strategic direction:

• Banking operations
• Human Resources
• IT & Digital Banking
• Treasury & Forex Operations
• Rural Economy

Regulatory Compliance and Approval

The appointment adheres to regulatory requirements:

• Received approval from the Reserve Bank of India
• Complies with relevant regulatory standards

This strategic appointment comes at a crucial time for Karnataka Bank. With Mr. Bhat's extensive experience and deep understanding of banking operations, stakeholders will be keenly watching how his leadership shapes the bank's future strategies and performance in the dynamic banking landscape.