Mangaluru: Private sector lender The Karnataka Bank Ltd has appointed Parthasarathi Periaswamy as an Additional Director (Non-Executive, Independent) for a term of four years with effect from July 29, subject to the approval of the bank’s shareholders in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the applicable provisions of the Companies Act, 2013.
The appointment is expected to further strengthen the bank’s digital transformation initiatives, particularly in the areas of information technology, cybersecurity and governance, as the lender continues to enhance its technology-driven banking services.
Veteran technology and cybersecurity expert
Parthasarathi Periaswamy brings more than three decades of experience in information technology and cybersecurity, having held several key leadership positions in India’s financial sector.
He previously served as the Chief Information Security Officer (CISO) and Chief General Manager (Information Technology) at the Reserve Bank of India (RBI). During his tenure, he played a significant role in developing national cybersecurity frameworks, modernising mission-critical technology infrastructure and enhancing cyber resilience across the country’s banking ecosystem.
His experience spans policy formulation, technology governance and regulatory oversight, making him one of the country’s experienced professionals in banking technology and cyber risk management.
Leadership at IDRBT
Apart from his role at the RBI, Parthasarathi served as the Chief Technology Officer at the Institute for Development and Research in Banking Technology (IDRBT).
In this capacity, he led the institute’s IT infrastructure, trust services and the Indian Banking – Cyber Alert and Response Team (IB-CART), the national threat intelligence platform for the banking sector.
He also convened the CISO Forum and organised several national-level cyber security drills, helping banks improve collaboration, preparedness and response mechanisms against emerging cyber threats.
Advisory roles in the financial sector
Following his tenure in central banking, Parthasarathi continued to contribute to the financial sector as an adviser to several leading private sector banks on cybersecurity governance, policy reviews and crisis management.
He also worked as a Consultant to the Reserve Bank Innovation Hub, where he guided projects focused on strengthening cybersecurity in India’s financial ecosystem.
Between 2019 and 2021, he served as a Board Member of Indian Financial Technology and Allied Services (IFTAS), an RBI subsidiary, where he oversaw technology governance and sector-wide IT initiatives aimed at improving digital banking infrastructure.
Expertise in technology and governance
Widely respected for his ability to integrate technology, regulation and strategic planning, Parthasarathi has consistently worked towards enhancing organisational resilience and promoting stronger cybersecurity governance across financial institutions.
His expertise covers regulatory technology, digital transformation, cyber risk management and governance frameworks that support secure and resilient banking operations.
Over the years, he has earned recognition for helping institutions prepare for evolving cyber threats while ensuring compliance with regulatory standards and maintaining customer trust in digital financial systems.
Boost to Karnataka Bank’s digital initiatives
Karnataka Bank believes that Parthasarathi Periaswamy’s extensive experience at the highest levels of India’s financial sector will significantly benefit the bank’s ongoing technology initiatives.
His expertise in information technology, cybersecurity and digital governance is expected to support the bank’s efforts to strengthen its digital infrastructure, improve cyber resilience and enhance technology-led banking services for customers.
The appointment also reflects Karnataka Bank’s continued focus on reinforcing its board with professionals possessing specialised expertise in technology and governance, areas that have become increasingly important as banks accelerate digital transformation and adopt advanced financial technologies.
Subject to shareholder approval, Parthasarathi Periaswamy will serve as an Independent Director for four years, contributing his extensive knowledge and experience to the bank’s strategic direction and long-term growth.