Karnataka Bank appoints Sekhar Rao as new ED

Private Sector lender Karnataka Bank has appointed Sekhar Rao as an Additional Director to take up the role of Executive Director of the Bank for a period of three years effective from the date of taking charge, subject to approval of the shareholders.

Rao has 29 plus years of experience across various sectors such as Banking, Information Technology, Payment and Settlement Products, Business Management, Strategy & Operations, of which 19 years in the BFSI sector. He also has an experience of 10 plus years in CXO roles reporting to MD & CEO and Board Committees.

His areas of experience include setting up and managing centralized operation units and technology teams, consulting for projects in business strategy and banking operation, managing the digital/alternate channels of Banks, setting up of new business verticals, distribution channels, branch network expansion, managing large network of Branches & Business Units and setting up and scaling a Fintech start-up, the bank said in a press release.

He had so far been associated with a fintech – Savvy India as the co-founder and a director from April 2020. He was also associated with CSB bank Ltd as the Head – Operations & IT for about six years. Earlier, he has worked with RBL Bank Ltd, ING Vysya Bank Ltd, ICICI Bank Ltd., Asian Paints (I) Ltd., Goodlass Nerolac Paints Ltd., (now Kansai Nerolac Paints Ltd) in various capacities, the release added.

Bank managing director and CEO Mahabaleshwara MS said Rao brought with him rich experience from multiple sectors such as Banking, Information Technology, strategy, operations and also fintech. “We look forward to working closely with him and we wish him good luck in his new assignment.”

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