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Karnataka Bank has appointed Uma Shankar as Additional Director (non-executive, independent) at its board meeting on October 13. The appointment will be effective from November 1.
A press release by the bank said on Tuesday that Uma Shankar is a former Executive Director of Reserve Bank of India (RBI). She was with the RBI for over 37 years in different capacities. Her core competence is in the financial sector supervision, but she has also been responsible for currency management, foreign exchange and internal accounting and administration.
Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, the release said that with the induction of Uma Shankar to the board, eight out of 11 directors are Independent Directors and there will be two women directors on the board of the bank. “She brings her rich banking experience, which is expected to provide a great value addition at the board-level,” he said.
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