RK Chhibber, Executive President of J&K Bank, was appointed following removal of Parvez Ahmed as CMD of the bank.
New Delhi: Jammu & Kashmir Bank Monday said it has received RBI's approval for appointment of RK Chhibber as its interim CMD for three months.
Chhibber, Executive President of J&K Bank, was appointed following removal of Parvez Ahmed as CMD of the bank by the Jammu & Kashmir administration.
Ahmed was allegedly involved in corruption, nepotism and favouritism.
"We wish to intimate that the bank has received approval from the Reserve Bank of India for the appointment of R K Chhibber as interim Chairman & Managing Director of the bank for a period of three months with effect from June 10, 2019," J&K Bank said in a regulatory filing.
Ahmed's removal is part of action taken by Anti Corruption Bureau, which was established a few months ago in the state.
On Saturday, the bank said subject to approval of the RBI, the board has appointed Chhibber as the interim CMD with effect from June 8, 2019.
"Consequent to this Parvez Ahmed ceases to be Director and Chairman/CEO of the bank from June, 8 2019," the bank said last week.