Jammu and Kashmir government appointed RK Chibber as interim chief of J&K Bank

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