Bengaluru, June 29 -- The Board of Directors of Karnataka Bank today formally accepted the resignation of its Managing Director and Chief Executive Officer, Srikrishnan Hari Hara Sarma, effective July 15. Sarma cited personal reasons, including a decision to relocate to Mumbai, for stepping down from his post. In another major development, the Bank's Executive Director, Sekhar Rao, has also tendered his resignation citing his inability to relocate to the Bank's headquarters in Mangaluru along with other personal considerations. His resignation will take effect on July 31. Following these developments, the Bank has constituted a Search Committee tasked with identifying suitable candidates for both the MD & CEO and Executive Director positio...