Bengaluru, Sept. 10 -- In a significant political setback to former Minister KN Rajanna and a boost to Chief Minister DK Shivakumar, S Ravi was elected unopposed as president of the Karnataka State Cooperative Apex Bank on Thursday, ending the high-profile tussle within the ruling Congress over control of the cooperative institution.
The election assumes significance as Ravi was backed by the Shivakumar camp, while Rajanna had emerged as the principal contender from the Siddaramaiah camp. The contest had come to symbolise the continuing political rivalry between the two powerful Congress camps.
The election was also preceded by a reported 50:50 power-sharing formula under which the president's tenure was proposed to be divided into two-an...