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RBI extends J&K Bank CMD R.K Chhibber’s tenure by six more months

Srinagar: The Reserve Bank of India (RBI) has extended the tenure of Jammu and Kashmir Bank Chairman and Managing Director (CMD) R K Chhibber by another six months.

The services of Chhibber, who was appointed as interim Chairman and Managing Director of J&K Bank on June 10, 2019, were last extended on October 2020.

Prior to that, his services as CMD of the bank were extended from October 2019 to April 2020 under section 10BB of the Banking Regulation Act.

“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to intimate that the Reserve Bank of India has extended the term of Mr. R. K. Chhibber, Chairman and Managing Director of the Bank by a further period of six months with effect from 10th April, 2021 or till the appointment of MD & CEO, whichever is earlier,” said Company Secretary of the bank Mohammad Shafii Mir in a fresh communique.

Chhibber’s association with the bank dates back to 1982, when he was appointed as Probationary Officer and played an important role in the growth of bank at branch and zonal levels.

Speaking exclusively with The Kashmir Monitor, Chhibber said his priorities will be the overall progress of the bank in the next financial year.

“Our focus will be to grow in double digits across India like the bank is progressing right now in Jammu and Kashmir, and Ladakh. We will equally strive for robust compliance,” he said.