Daijiworld Media Network - Mangalore (SP)

Mangalore, Jun 17: P Jayaram Bhat, who was hitherto functioning as the  chief general manager of the private sector Karnataka Bank having its headquarters in the city, has been appointed as the managing director of the Bank. The term of his appointment is three years.

The post of the managing director has been created for the first time in Karnataka Bank, after splitting the post of the chairman and chief executive officer, held so far by Anantakrishna. Anantakrishna will henceforth, function for three years as the non-executive chairman of the Bank.

The tenure of Anantakrishna is set to end on July 12 this year. From that date, Jayaram Bhat will take charge as the managing director. These changes and Bhat's promotion have received the approval of the Reserve Bank of India.

About Jayaram Bhat: P Jayaram Bhat (57) holds M Sc degree from Mysore University in chemistry. He is also an associate of the Indian Institute of Bankers. After joining Karnataka Bank in 1973 as probationary officer, he headed several branches of the Bank for 14 years, before being promoted in 1993 as the chief accountant in the head office.  He became assistant general manager in 1994, deputy general manager in 1996 and general manager in the year 1998. He headed important portfolios like advances and information technology. In 2005, he was promoted to the post of the chief general manager.

Bhat, son of the late Purohit Vasudev Bhat from Polali, studied in Polali Vidyavilasa School, Gurpur Board Highschool and Mangalore St Aloysius College.