RBI approves appointment of Pradeep Kumar Panja as Chairman of Karnataka Bank

Karnataka Bank Ltd has received approval from the Reserve Bank of India to appoint Pradeep Kumar Panja, an Independent Director of the bank, as part-time non-executive Chairman with effect from November 14, for a period of three years. He will succeed P Jayarama Bhat, who will complete his term on November 13.

Pradeep Kumar Panja retired as Managing Director (Corporate Banking) of State Bank of India (SBI). Prior to this, he also held the post of Managing Director of State Bank of Travancore for about a year.

During his long association of 39 years with SBI (three years at the board level), he gained rich experience in various areas of banking, including corporate and international banking, treasury management, information technology, retail, transaction banking, strategic planning, business development and risk management.

Currently he is a member of the Banks Board Bureau (BBB) and also Director on the boards of seven companies (including three listed companies, including Karnataka Bank) engaged in the business of asset reconstruction, cement, real estate, NBFC, AFI, etc.

Panja, who hails from Panja village in Dakshina Kannada, has been on the board of Karnataka Bank Ltd since August 19, 2020.

His appointment as an Independent Director was approved by the shareholders at the 97th Annual General Meeting held on September 2.