Karnataka Bank has appointed Justice AV Chandrashekar and Pradeep Kumar Panja as Additional Directors. A press release said here that the bank appointed the additional directors at its board meeting on August 19.

Justice AV Chandrashekar is a former Judge of Karnataka High Court and also a former Judicial Member of Karnataka State Administrative Tribunal. He was appointed as a Judge of the Karnataka High Court and held the post for a period of three years from 2013 to 2016.

Pradeep Kumar Panja retired as Managing Director (Corporate Banking) of State Bank of India (SBI) in October 2015. During his long association of 39 years with SBI, he gained 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, among others. The release said that Panja also successfully led SBI’s US operations as Country Head (US) and has an excellent track record of leading large teams across various business verticals of SBI.

Welcoming the two new additional directors, Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, said: “With their induction, now 72 per cent of the board consists of independent directors, as against the minimum requirement of 33.33 per cent, which reflects the importance given by the bank towards ensuring the highest level of corporate governance. Their experience and guidance in the field of law and banking will be a great value addition to the Board.”

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