Karnataka Bank board showed who's the boss

ON JUNE 28, during the two-day conference of the All India Karnataka Bank Employees Association, managing director and CEO Srikrishnan Hari Hara Sarma called upon employees to brace for the changing banking landscape.

- KSHIPRA PETKAR

In just 24 hours, employees would be grappling with much more - the exit of Sarma and executive director Sekhar Rao due to differences with the board.

While Sarma said the resignation was for personal reasons, the tussle between the board and the duo has been going on for some time. Around 45 days back, the auditors of the bank highlighted that the total expenditure included an expense of ₹1.16 crore for engaging consultants and other revenue expenditure.