Karnataka Bank Ltd has disclosed to stock exchanges regarding a strike notice issued by bank unions for January 27, 2026. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Strike Details and Participating Unions

The strike call has been issued by the All India Karnataka Bank Employees Association (AIKBEA) and Karnataka Bank Officers Organisation (KBOO). These organizations are affiliated to the All India Bank Employees Association (AIBEA) and All India Bank Officers Association (AIBOA) respectively, operating under the banner of United Forum of Bank Unions (UFBU).

Union Demands and Opposition Points

The striking unions have outlined specific demands and areas of opposition that have prompted this industrial action. Their primary demands include:

• Implementation of 5-day banking week
• Introduction of regulated working hours
• Opposition to disinvestment process in IDBI
• Opposition to disinvestment in 3 Regional Rural Banks (RRBs)

Expected Impact on Operations

Karnataka Bank has acknowledged that the strike, if it materializes, will likely affect normal operations across its network. The bank has indicated that the functioning of branches, offices, and departments may be disrupted during the strike period.

Bank's Response and Mitigation Measures

Despite the potential disruption, Karnataka Bank has stated that it is taking necessary steps to ensure normal functioning across its branches, offices, and departments. However, the bank has not quantified the expected quantum of loss, damages, or the specific impact on operations that may result from the strike action.

The disclosure was signed by Sham K, Company Secretary and Compliance Officer, and communicated to both the National Stock Exchange of India Limited (Scrip Code: KTKBANK) and BSE Limited (Scrip Code: 532652) on January 25, 2026.

Karnataka Bank Limited has successfully completed its postal ballot e-voting process for the appointment of Mr. Raghavendra Srinivas Bhat (DIN: 11165725) as Managing Director & CEO. The ordinary resolution received overwhelming shareholder approval, marking a significant milestone in the bank's leadership transition.

E-Voting Process and Timeline

The remote e-voting process was conducted in accordance with the Companies Act, 2013, and SEBI Listing Regulations. The voting commenced on Wednesday, December 24, 2025, at 09:00 AM IST and concluded on Thursday, January 22, 2026, at 05:00 PM IST. Shareholders whose names appeared in the Register of Members as on the cut-off date of December 19, 2025, were eligible to participate in the voting process.

National Securities Depository Limited (NSDL) served as the service provider for the remote electronic voting facility, while Integrated Registry Management Services Private Limited acted as the Registrar and Share Transfer Agent. CS Ullas Kumar Melinamogaru, Practicing Company Secretary (Membership No.: 6202 and C.P. No.: 6640), was appointed as the scrutinizer for the e-voting process.

Voting Results and Shareholder Response

The postal ballot results demonstrated strong shareholder confidence in the proposed appointment. The detailed voting statistics reveal substantial participation and support from the bank's investor community.

Regulatory Compliance and Documentation

The bank ensured full compliance with regulatory requirements throughout the postal ballot process. The voting was conducted pursuant to Sections 108 and 110 of the Companies Act, 2013, read with Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of the SEBI Listing Regulations.

The postal ballot notice dated December 22, 2025, along with the explanatory statement, was dispatched to all eligible members via email. The bank provided comprehensive voting instructions and maintained transparency throughout the process, with all relevant documents made available on the bank's website.

Leadership Transition Details

The appointment of Mr. Raghavendra Srinivas Bhat as Managing Director & CEO represents a strategic leadership decision approved by the bank's shareholders. The resolution was classified as an ordinary resolution, requiring a simple majority for approval, which was significantly exceeded with nearly 90% shareholder support.

The scrutinizer's report, submitted by CS Ullas Kumar Melinamogaru, confirmed the validity of the voting process and declared the resolution as duly passed. The report was countersigned by Chairman Pradeep Kumar Panja on January 22, 2026, formalizing the appointment decision.

Disclosure and Market Communication

Karnataka Bank Limited has fulfilled its disclosure obligations under Regulation 44 of the SEBI Listing Regulations by submitting the scrutinizer's report and voting results to both NSE (Scrip Code: KTKBANK) and BSE (Scrip Code: 532652). The complete voting results and related documents have been made available on the bank's official website for stakeholder reference and transparency.