Why Karnataka Bank’s top brass stepped down amid auditor red flags

Karnataka Bank’s Board has accepted the resignations of MD & CEO Srikrishnan Hari Hara Sarma and Executive Director Sekhar Rao, following auditor concerns over certain expenditures. Sarma, citing personal reasons and a move back to Mumbai, will step down on July 15. Rao, unable to relocate to Mangaluru, will exit on July 31.