NEW DELHI: Reserve Bank of India has extended another the term of present Chairman and Managing Director J&K Bank R K Chibber by six months.
Letter Reference No JKB/BS/F3652/2021/159 dated 5/10/2021 issued by Mohd Shafi Mir reads ” Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the RBI has extended the term of R.K.Chibber as Chairman and MD for six months w.e.f Oct 10, 2021 or till the appointment of CEO and MD or whichever is earlier in terms of Section 10BB(2) of the Banking Regulation Act, 1949.
Pertinently, RBI had initially approved R K Chhibber as CMD on 09.06.2019 as CMD for a period of six months which was extended successively for the fourth time.