Jammu and Kashmir government removed Jammu and Kashmir (J&K) Bank Chairman Parvez Ahmad.
They decided to take long term measures to
improve the functioning of the bank so that it becomes an example of a well
managed government-owned bank.
They appointed R K Chibber as
interim chairman of the lender.
Ahmad was appointed in 2016 as the chairman of
the bank.
The Vigilance Organisation made 1,200
appointments during the previous PDP-BJP dispensation in the state during
Ahmad’s tenure as chairman of the bank.
Jammu and Kashmir Bank decided to take long term
measures to improve the functioning of the bank and it becomes a shining
example of a well managed government-owned bank.
Last year the Governor-led State Administrative Council (SAC) approved
the proposal for treating Jammu and Kashmir Bank Limited as a public sector
undertaking (PSU) and to make it to the state legislature from its employees.
The government will re-examine the issue of
accountability.
About J
and K Bank
Headquarters: Srinagar
Revenue: 7,178.66 crores INR (US$1.0 billion)
Owner: Government of Jammu and Kashmir (59%)
Interim Chairman: RK Chibber
