RBI approves Pankaj Kumar Panja as non-executive chairman of Karnataka Bank

“We are pleased to inform you that the Bank has received approval from Reserve Bank of India (RBI) for appointment of Independent Director Pradeep Kumar Panja u/s 10B(1A)(i) of the Banking Regulation Act, 1949 Bank, as part-time Chairman of the Bank, for a period of three years with effect from November 14, 2021,” the Karnataka Bank said in its filing.

It further said, “RBI has also approved payment of remuneration to them as detailed in Annexure to this letter, which the Bank will place before the shareholders in its Annual General Meeting to be held in FY 2022-23. “

Panja is a career banker and retired as Managing Director (Corporate Banking) of State Bank of India (SBI). He has also served as the Managing Director of State Bank of Travancore for about a year. He has spent 39 years with SBI, of which three years were at the board level.

Panja has 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.

Presently he is a member of Banks Board Bureau (BBB) ​​and also a Director on the Board of seven companies (including three listed companies including Karnataka Bank) engaged in the business of asset reconstruction, cement, real estate, NBFCs, AFIs, etc. Is on the board of Karnataka Bank since August 19, 2020.

Panja’s expertise includes accountancy, banking, collaboration and SSI, finance, IT, risk management, payments and settlements, human resources and business management.

As the non-executive chairman of Karnataka Bank, Panja. will draw the salary of ₹15 lakhs per annum subject to the approval of the shareholders in the ensuing Annual General Meeting to be held in the financial year 2022-23.