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Mahabaleshwara Bhat Is New Chief General Manager Of Karnataka Bank

9/3/2013 5:49 AM ET

Mangalore headquartered premier private sector bank Karnataka Bank Ltd. has promoted its General Manager M.S. Mahabaleshwara Bhat, as its Chief General Manager.

Mahabaleshwara Bhat, a post graduate in Agricultural Science, has over 29 years of banking experience both at operational and administrative levels.

He jointed Karnataka Bank in 1982. Initially he served at Credit Department of the bank at Mangalore, Later on he headed Banakal, Chickmagalur Agricultural Development Branch and Bangalore Kasturba Road branches of the bank.

On his promotion as Chief Manager and later on as Assistant General Manager he served at Credit Department and Planning & Development Department of the bank at its Head Office, Mangalore. Later on he moved to New Delhi Regional Office as Regional Head. In 2011, he was elevated to the post of General Manager.

He has good experience in administration of 'Agri & Rural Credit,' Retail, MSME and corporate finance, Forex business, Corporate Planning & Development, Business Process Reengineering, New Products development, Bancassurance Business, Alternate Delivery Channels. Etc.

In another announced in the BSE, the bank has raised its NRE Rupee deposit interest rates by 50 basis points for three years to ten years maturity effecting September 2, 2013.

The revised interest rate for three years to five years maturity was increased to 9.50 percent from nine percent and for above five years to ten years maturity the rate was increased to 9.25 percent from 8.75 percent.

At the BSE, Karnataka Bank shares are currently trading at Rs.77.20, down 2.22 percent from the previous close.

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by RTT Staff Writer

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