The RBI has approved the reappointment of Mr P. Jayarama Bhat as MD and CEO of Karnataka Bank for the second term. A bank release said here on Wednesday that Mr Bhat will be completing his first term in office on July 13. The RBI has conveyed its approval for the reappointment of Mr Bhat for further period of three years with effect from July 14, as proposed by bank’s board of directors, it said. The bank is eyeing a business turnover of over Rs 1-lakh crore by March 2015, the statement added.