Karnataka Bank Ltd. has announced significant updates regarding its dividend payment and board composition.

Dividend Payment Details

The bank has fixed September 16, 2025 as the record date for dividend payment. This decision is subject to shareholder approval at the upcoming 101st Annual General Meeting (AGM) scheduled for September 23, 2025 at 11:30 AM. The AGM will be conducted via video conferencing. If approved, the dividend will be disbursed on or after September 29, 2025.

Re-appointment of Uma Shankar

The bank's Board of Directors has approved the re-appointment of Mrs. Uma Shankar as a Non-Executive Independent Director for an additional three-year term. Her new term is set to commence from November 1, 2025, following the conclusion of her current tenure on October 31, 2025, and will extend until October 31, 2028, subject to shareholder approval through a special resolution.

About Uma Shankar

Mrs. Uma Shankar brings a wealth of experience to the Karnataka Bank board:

• Former Executive Director of the Reserve Bank of India (RBI)
• Over 37 years of experience in the financial sector
• Core competencies include financial sector supervision, currency management, and foreign exchange
• Post-Graduate degree in English Literature
• Certified Associate of the Indian Institute of Bankers (CAIIB)
• Completed Executive Education at Columbia Business School, New York (2009 alumni)

Mrs. Shankar has been serving on the bank's board since November 1, 2020, contributing her extensive knowledge and expertise to the institution's governance.

Regulatory Compliance

In compliance with regulatory requirements, Karnataka Bank has confirmed that Mrs. Uma Shankar has not been debarred from holding the office of a Director by the Securities and Exchange Board of India (SEBI) or any other authority.

These developments reflect Karnataka Bank's commitment to strong corporate governance and shareholder engagement as it moves forward with its strategic plans.

Karnataka Bank Ltd., a prominent player in India's banking sector, has announced a significant change in its senior management. Mr. Ramaswamy Subramanian, the bank's Chief Product Officer (CPO), has submitted his resignation, marking the end of his tenure with the institution.

Resignation Details

The bank officially accepted Mr. Subramanian's resignation on August 1, 2025. In a regulatory filing to the National Stock Exchange of India Limited and BSE Limited, Karnataka Bank stated that the details regarding the management change and the actual exit date would be communicated after completing internal formalities.

Reason for Departure

According to the resignation letter attached to the LODR filing, Mr. Subramanian cited personal reasons for his decision to leave the organization. He expressed his intention to pursue opportunities outside the bank, mentioning a three-month notice period as per his employment contract.

Impact and Next Steps

The departure of a Chief Product Officer can potentially influence a bank's product strategy and innovation initiatives. Karnataka Bank has not yet announced a successor for the position, leaving industry observers curious about the bank's plans to fill this crucial role.

Recent Management Changes

It's worth noting that this is not the only recent change in Karnataka Bank's senior management. In a separate announcement dated July 31, 2025, the bank informed about the retirement of two other senior officials:

1. Mrs. Sumana Ghate, General Manager and Head of Operations Department (and Credit Sanctions Department for exposures up to Rs. 15.00 crores)
2. Mr. Nagaraja Aithal, Deputy General Manager of the Credit Monitoring Department

Both Mrs. Ghate and Mr. Aithal retired upon reaching superannuation, effective from the close of business hours on July 31, 2025.

As Karnataka Bank navigates these changes in its leadership team, stakeholders will be keenly watching how the bank adapts and continues to serve its customers across India.