Srinagar
Pursuant to the order of Govt of J&K, regarding change of guard at J&K Bank, R. K. Chhibber assumed office as interim Chairman cum Managing Director of the Bank.
The spokesman said that earlier the Board of directors in its meeting held on 8-Jun-2019 at Corporate headquarters of the Bank took on record the Govt order and passed a resolution regarding the appointment of R K Chhibber as Nominee Director of the Govt of J&K (Govt Director) on the Board of the Bank w.e.f. 08-Jun-2019. The Board besides passed another resolution appointing R. K. Chhibber as the interim Chairman & Managing Director of the Bank subject to the approval of RBI. Chhibber shall besides be the Interim Chairman of all sub-committees of the Board previously headed by the ex-Chairman.
The Board besides recommended splitting of the post of Chairman & Managing Director as per the provisions of SEBI regulations and RBI guidelines.
On the occasion, Chhibber said, “Having full faith and confidence in the outstanding workforce of the Bank, we shall strive to not only weather the challenges at hand but put the Bank on a different pedestal with the committed support of our promoters, The J&K Govt, regulators, vibrant management and dedicated workforce.”
Delineating his priorities R.K. Chhibber said that setting New Benchmarks in business growth & profitability through customer-centric business strategies, employee development & welfare, increased shareholder value, strengthening governance and improving compliance culture across the organization would be the prime focus areas.
In the meantime, the Employees gave a resounding welcome to the new Chairman at Corporate Headquarters, Srinagar and pledged their full support and commitment towards achievement of corporate goals.
Chhibber joined the services of the bank as a probationary officer in the year 1982 and has led the bank in various capacities from managing business operations at the branch, Zonal offices and at Corporate level. His main areas of expertise include Credit, Finance, IT, Corporate & Retail banking, Risk management, Trade Finance, Foreign exchange, Business continuity planning, HR, Bancassurance. Bank made remarkable improvements in technology infrastructure and expertise while being headed by him as Vice President IT.
He also headed J & K Grameen bank as Chairman for nearly three years and brought great laurels to the bank by performing with dedication and with the accomplishment of key strategic goals. Prior to stepping into the role of Chairman & MD, he as Executive President functioned as Chief Compliance Officer of the bank besides handling Business Support division, Insurance, Government Banking, Lead Bank, CSC, FID, Subsidiary Management, Culture & Sports functions of the bank. He has to his backing a vast experience in versatile fields of banking and finance and almost 03 decades of relentless efforts in raising key milestones in the development of the bank.
