Karnataka Bank Ltd has recently received approval from the Reserve Bank of India to appoint Pradeep Kumar Panja who is an Independent Director of the bank, as part-time non-executive Chairman with effect from November 14.
He shall be appointed for a term of three years. He shall be succeeding P Jayarama Bhat, who may complete his term on November 13.
Panja, who comes 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.
Pradeep Kumar Panja had retired as Managing Director (Corporate Banking) of State Bank of India (SBI). Before this, he held the post of Managing Director of State Bank of Travancore for about a year as well.
During his long tenure of 39 years with SBI (three years at the board level), he had a 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.
He is a member of the Banks Board Bureau (BBB) presently and also Director on the boards of seven companies (including three listed companies, including Karnataka Bank) involved in the business of asset reconstruction, cement, real estate, NBFC, AFI, etc.