Pankaj Kumar Panja appointed as part-time Chairman of Karnataka Bank

New Delhi: The Reserve Bank of India (RBI) on Friday, 15 Oct approved the appointment of Pankaj Kumar Panja as part-time Chairman of Karnataka Bank which will come into effect from 14, November 2021 for a period of three years. The bank announced the appointment in a regulatory filing today.

The Bank mentioned, “We are pleased to inform you that Bank has received approval from the Reserve Bank of India (RBI) in terms of Section 10B(1A)(i) of the Banking Regulation Act, 1949 for appointment of Pradeep Kumar Panja, Independent Director of the Bank, as Part-Time Chairman of the Bank, w.e.f. November 14, 2021, for a period of three years."

Accordingly, Panja will withdraw a salary of Rs 15 lakh p.a as non-executive chairman of Karnataka Bank.