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The Karnataka Bank saga: A clash of egos and cultures in old private banks
Tamal Bandyopadhyay
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On February 18, 2025, when Karnataka Bank celebrated its 101st anniversary, Madhusudan Sai, a humanitarian and spiritual teacher, delivered the foundation day address at its headquarters at Pumpwell in Mangaluru, a coastal town in Karnataka. A Carnatic music concert by vocalist Vidwan P Unnikrishnan and flutist Shashank Subramanyam followed.
Present at the event were the bank's chairman, P Pradeep Kumar, Managing Director and CEO Srikrishnan Hari Hara Sarma, Executive Director (ED) Sekhar Rao, besides some independent directors and the entire management team.
A few months later, on June 29, both Sarma and Rao resigned.
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Business Standard
a day ago
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The Karnataka Bank saga: A clash of egos and cultures in old private banks
Karnataka Bank was founded by a group of agriculturists, lawyers and businessmen, led by BR Vysaray Achar, to promote economic development in the South Canara region. It has no identified promoter Tamal Bandyopadhyay Listen to This Article On February 18, 2025, when Karnataka Bank celebrated its 101st anniversary, Madhusudan Sai, a humanitarian and spiritual teacher, delivered the foundation day address at its headquarters at Pumpwell in Mangaluru, a coastal town in Karnataka. A Carnatic music concert by vocalist Vidwan P Unnikrishnan and flutist Shashank Subramanyam followed. Present at the event were the bank's chairman, P Pradeep Kumar, Managing Director and CEO Srikrishnan Hari Hara Sarma, Executive Director (ED) Sekhar Rao, besides some independent directors and the entire management team. A few months later, on June 29, both Sarma and Rao resigned.
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