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.

Karnataka Deputy Chief Minister DK Shivakumar made a compelling case for the state's investment potential during his debut appearance at the World Economic Forum Annual Meeting. Speaking at the prestigious global gathering, he positioned Bengaluru as India's gateway for international investors, stating that "the world sees India through Bangalore."

Karnataka's Strategic Investment Sectors

Shivakumar highlighted the diverse opportunities available across Karnataka's key industries, with particular emphasis on high-growth sectors attracting global attention.

The Deputy Chief Minister noted that investors are particularly drawn to Bengaluru's infrastructure developments, including metro systems, flyovers, and tunnels. He emphasized the city's appeal due to its safe environment, favorable weather conditions, and business-friendly culture.

Global Engagement and Investment Discussions

During his WEF participation, Shivakumar engaged in discussions with leaders from multiple regions, focusing on concrete investment opportunities. His meetings with representatives from the US, Europe, and Saudi Arabia centered on potential collaborations in semiconductors, artificial intelligence, startups, and healthcare sectors.

The Deputy Chief Minister also highlighted growing interest in Karnataka's tier-two and tier-three cities, indicating the state's investment appeal extends beyond Bengaluru. This broader geographic interest suggests opportunities for diversified industrial development across Karnataka.

Economic Contribution and Federal Dynamics

Shivakumar addressed Karnataka's significant economic contribution to India's national finances, presenting specific figures that underscore the state's fiscal importance.

This disparity between contribution and allocation highlights Karnataka's substantial economic strength compared to other Indian states. The Deputy Chief Minister used these figures to demonstrate the state's robust financial foundation and its capacity to support large-scale investments.

Investment Climate and Future Outlook

Shivakumar expressed strong confidence in Karnataka's ability to attract additional global investors, reiterating Bengaluru's crucial role in shaping India's international business image. He emphasized that Karnataka's business-friendly policies and diverse industrial base position the state as an attractive destination for foreign investment.

The Deputy Chief Minister's WEF presentation focused on Karnataka's comprehensive investment ecosystem, spanning traditional sectors and emerging technologies. His engagement with international leaders at the forum demonstrates the state government's proactive approach to attracting global capital and establishing Karnataka as a premier investment destination in India.