Srinagar: RK Chibber has been granted six months extension as Chairman and Managing Director of Jammu and Kashmir Bank Ltd. on the request made by the Jammu and Kashmir Government (Board of Directors) to Reserve Bank of India.
Authoritative sources told Kashmir Horizon that the Bank was conveyed the decision about the extension through a communiqué issued by the RBI authorities. “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements, Regulations, 2015, we hereby intimate that the Reserve Bank of India has under section 10 BB(2) of the Banking Regulation Act, 1949 extended the term of R. K. Chhibber, Chairman and Managing Director of the Bank by a further period of six months with effect from 10th October, 2021 or till the appointment of MD & CEO, whichever is earlier”, reads the communiqué .
