Government removes JK Bank Chairman Parvez Ahmed, RK Chibber likely to take charge
Kashmir News Trust Web Desk
SRINAGAR: The Government of Jammu and Kashmir has removed the incumbent Chairman of Jammu Kashmir Bank.
Vishal Sharma KAS Additional Secretary to Government Finance Department issued an order on Saturday stating the decision has been taken in exercise of the powers under Article 69 (111) of Articles of Association of Jammu and Kashmir Bank Limited.
“Mr Parvez Ahmed, Chairman cum Managing Director shall cease to be Director on the Board of Directors of the Bank and consequently be no longer the Chairman cum Managing Director of the Board,” the order reads.
It further states that Mr RK Chibber is hereby nominated as the Director on the Board and may be further appointed as the interim Chairman cum Managing Director of the Board.
“These directions shall come into effect immediately.”
Jammu Kashmir Bank is a J&K based private sector banking and financial services company. It is a Private-owned bank with state share with its headquarters in Srinagar, Jammu and Kashmir, India. J&K Bank, incorporated on October 1, 1938, was the first bank in India to emerge as a state–owned bank.