Search begins for appointing Managing Director of J&K Bank

Nasir Azam

Srinagar, Mar 28 (KNO): The Jammu & Kashmir government has flagged off the search for appointing first fulltime managing director of J&K Bank.

To begin with, the J&K Bank has invited applications from professionals with experience in mainstream banking sector for filling the key position.

According to advertisement notice, the candidate must be citizen of India and shall have 15 experience in mainstream banking sector with three years at Board level. The government will appoint MD on recommendations of a screening committee which will hold interactions with suitable candidates, the notice reveals.

“The applications be screened by a Screening committee and suitable candidates meeting the eligibility criteria shall be shortlisted for an interaction with the selection/search Committee, which will make

Recommendation to the Government of Jammu & Kashmir for appointment as Managing Director of the Bank. The decisions/ recommendations of the screening / selection/search committee and J&K Govt. shall be final,” reads the notice. As already reported by KNO, the government has set up a three-member committee headed by Tapan Ray, ex-Union Corporate Secretary for screening/ selection of chairman and managing director of J&K Bank.

Arun Kumar Mehta, Financial Commissioner Finance department and Anand Madhukar, officer on special duty in department of Financial Services, Government of India are two members 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 had recommended the appointment of separate chairman and a managing director of the bank. The J&K government was repeatedly directed by the Reserve Bank of India (RBI) to separate the positions of Chairman and Managing Director for better governance—(KNO)