As per the communication dated 17th September 2013 from RBI, he will continue to head the institution for next three years. The extended term will have effect from 6th October, 2013.
Acknowledging the successful blend of his specialized knowledge with practical experience as prudent banker in all the critical fields of contemporary banking, Mushtaq Ahmad was first appointed as Chairman and CEO of the bank in October 2010.
His personal progression has been a vital contributing element to the unfolding success story of the bank since more than three decades.
Notably, under his leadership the bank achieved its Platinum Jubilee target of Rs one lac crore business and Rs one thousand crore profit for the financial year 2012-13.
Also the Bank has been pursuing inclusive growth, which lies at the heart of economic development of the country, seriously through its programme of financial inclusion across the state.
The institution is the only listed company from the state of Jammu and Kashmir and is considered one of the fastest growing banks in the country.