Srinagar, October 07 :
The tenure of Jammu and Kashmir Bank Chairman and Managing Director R .K Chibbar has been extended by Reserve Bank of India (RBI) for six more months.
The fresh extension, according is another one, after RBI extended the tenure of Chibbar earlier in July, as interim CMD of J&K Bank till the appointment of a new MD & CEO.
“The Reserve Bank of India has extended the term of R. K. Chhibber, Chairman and Managing Director (CMD) of the Bank by a further period of six months with effect from 10th October 2020 or till the appointment of MD & CEO, whichever is earlier,” RBI said in its regulatory filings issued on Wednesday.
Chibbar was appointed as interim CMD by RBI last year after the removal of Parvez Ahmed Nengroo, was removed from the post of CMD J&K Bank on the charges of corruption, nepotism and favoritism.
RBI had at that time appointed Chibbar as interim CMD for a term of three months.
However, the tenure was further extended in September 2019, followed by another six-month extension in October 2019 and further in April 2020 and July 2020
