Hunt For J&K Bank Chairman, MD Begins

Govt Forms 3-Member Panel Led By Ex- Union Corporate Secretary

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JK Bank Headquarters in Srinagar (File Photo: Abid Bhat / KO)

SRINAGAR – In a significant development, the Government of Union Territory of Jammu and Kashmir has constituted a search committee for selection of chairman as well as managing director of Jammu and Kashmir Bank Limited.

The three-member committee for the task would be headed by Tapan Ray, ex-Union Corporate Secretary. Arun Kumar Mehta, Financial Comissioner Finance department and Anand Madhukar, officer on special duty in department of Financial Services, Government of India would be part of the panel.

It is worthwhile to mention here that Reserve Bank of India in October last year gave a six months extension to R K Chhibber as the bank’s Chairman and Managing Director. He was appointed as the bank’s interim CEO for three months in June this year following the removal of Parvez Ahmed from the post by the State Government.

In June last year, the Board of Directors of J&K Bank recommended the appointment of separate chairman and a managing director of the bank.

The J&K was also repeatedly directed by the Reserve Bank of India (RBI) to separate the positions of Chairman and Managing Director for better governance. (KNO)

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