Money & Banking

Jammu & Kashmir Bank extends CMD’s term by six months

Mumbai | Updated on October 07, 2020

Jammu & Kashmir Bank, on Wednesday, said the Reserve Bank of India (RBI) has extended the term of RK Chhibber, Chairman and Managing Director of the bank, by a further period of six months.

In a regulatory filing, the bank said the extension is with effect from October 10or till the appointment of MD and CEO, whichever is earlier.

The bank informed the exchanges on July 7 that the term of Chhibber has been extended by a further period of three months with effect from July 10,or till the appointment of MD and CEO, whichever is earlier.

As per the bank’s latest annual report, Chhibber (Non-Independent Executive Director) has served as Interim Chairman and MD of the bank from June 10, 2019, to October 9, 2019, and has been serving as the Chairman and MD of the bank under section 10BB of the Banking Regulation Act, 1949 since October 10, 2019.

Chhibber joined the services of the bank as Probationary Officer in1982, and has led the bank in different capacities – from managing business operations at branch and zonal offices – to the corporate level across the operational geography of the bank.

Published on October 07, 2020

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