Former Karnataka Bank MD Polali Jayarama Bhat passes away

Team Udayavani, Aug 9, 2023, 6:03 PM IST

Mangaluru: Former Managing Director (MD) of Karnataka Bank, Polali Jayarama Bhat, passed away on Wednesday.

He collapsed due to a heart attack at Mangaluru airport in the afternoon. He was admitted to a hospital in the city but unfortunately passed away. He was 72 years old.

He was returning home after attending a board meeting of Universal Sompo Insurance Company in Mumbai on Tuesday.

Born in Polali, Bhat achieved a significant milestone by securing the top rank in his MSc program at Mysore University in 1972.

Starting his career as an educator, P Jayarama Bhat’s journey transitioned from teaching to banking, eventually leading him to the helm of Karnataka Bank Limited.

His journey in banking commenced in 1973 as a probationary officer at Karnataka Bank Limited, where he swiftly climbed the ranks. Bhat’s dedication led him to serve as a Branch Manager for 14 years before he assumed the role of chief accountant at the bank’s headquarters in 1993.

His ascent continued as he was promoted to Assistant General Manager, Deputy General Manager, and finally, Chief General Manager in 2005.

Polali Jayarama Bhat, affectionately referred to as P Jayarama Bhat, assumed the roles of Managing Director and Chief Executive Officer on July 14, 2009.  This marked an unprecedented achievement as Bhat led the Bank for three consecutive terms.

He was a member of the Management Committee of the Indian Banks’ Association (IBA) from August 2010 to August 2014, during which period he was also the Chairman of ‘IBA Committee on Member Private Sector Banks’. He also served as the Chairman of the Governing Board of Southern India Banks’ Staff Training College (SIBSTC), Bengaluru from  2019 until 2021.

During his tenure as Managing Director of Karnataka Bank, the Bank was conferred with many Awards in the field of IT, CSR, MSME instituted by IDRBT, IBA, CIMSME, ASSOCHAM, etc.

Beyond his banking career, P Jayaram Bhat had a strong passion for badminton, cricket, and Carnatic classical music.

He is survived by his wife and two children.