Karnataka Bank on Monday said its chief operating officer Raghavendra Srinivas Bhat will act as interim managing director and chief executive officer for a period of three months.

This followed the resignation of former managing director and CEO Srikrishnan Hari Hara Sarma on 29 June, citing personal reasons.

Bhat will function in his new role from 16 July. He has resigned from the role of COO of the bank, which will be effective from the close of business hours on 15 July.

The bank said the appointment, approved today by the board of directors, is for a period of three months or until a regular MD & CEO is appointed, whichever is earlier, based on the approval received from the Reserve Bank of India.

Bhat, who has been with the bank for 38 years, was appointed COO on 2 July. Starting as a clerk in 1981, he rose through the ranks and served as COO in the CGM cadre up to 2019.

During his tenure in the Karnataka Bank, he covered all key areas of Banking and Finance, including HR, IT and Digital Banking, Treasury and Forex Operations, Insurance (Third Part Products) and Rural Economy.

Having held top management positions for more than a decade, his leadership and vision have been pivotal in shaping strategic decisions at the highest levels, the bank said.