Pursuant to the order of the state government regarding change of guard at J&K Bank, R K Chhibber assumed office as interim Chairman-cum-Managing Director of the Bank.
Earlier, the Board of Directors in its meeting held on 8 June 2019 at bank’s corporate headquarters took on record the government order and passed a resolution regarding “appointment of R K Chhibber as nominee Director of the government of J&K (Govt Director) on the Board of the Bank with effect from 8 June 2019,” the bank in a statement said.
Besides, the Board passed another resolution appointing R K Chhibber as the interim Chairman cum Managing Director of the Bank subject to the approval of RBI.
R K Chhibber shall also be the interim Chairman of all sub-committees of the Board previously headed by the ex-Chairman Parvez Ahmad, who was sacked by the government on Saturday.
The Board also recommended splitting of the post of Chairman and Managing Director as per the provisions of SEBI regulations and RBI guidelines.