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Karnataka Bank appoints Pradeep Kumar Panja as part-time chairman for a period of three years

The Reserve Bank of India (RBI) has endorsed the arrangement of Pradeep Kumar Panja as part-time Chairman of Karnataka Bank, the loan specialist expressed in an administrative recording on Friday. The arrangement will become effective from 14 November 2021, and will be for a time of three years. “We are pleased to inform you that Bank has received approval from the Reserve Bank of India (RBI) in terms of Section 10B(1A)(i) of the Banking Regulation Act, 1949 for appointment of Pradeep Kumar Panja, Independent Director of the Bank, as Part-Time Chairman of the Bank, w.e.f. 14 November 2021, for a period of three years," Karnataka Bank said in its filing.

Panja is a career banker and retired as Managing Director (Corporate Banking) of State Bank of India (SBI). He has also served as Managing Director of State Bank of Travancore for about a year. He has spent 39 years with SBI, three years of which was at the Board level.

Panja has 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.

Currently he is a member of the Banks Board Bureau (BBB) and also Director on the Boards of seven companies (including three listed companies including Karnataka Bank) engaged in the business of asset reconstruction, cement, real estate, NBFC, AFI, etc. He is on the Board of Karnataka Bank since August 19, 2020.

Panja's expertise includes accountancy, banking, cooperation and SSI, finance, IT, risk management, payment and settlement, HR and business management.

As non-executive chairman of Karnataka Bank, Panja will withdraw a salary of ₹15 lakh per annum, subject to the approval of the shareholders at their ensuing Annual General Meeting to be held in FY2022-23.


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