Srinagar, Dec 24: The RBI has approved appointment of Amitava Chatterjee as Managing Director & Chief Executive Officer of Jammu & Kashmir Bank.
According to a RBI communique, Chatterjee (holding a key position in State Bank of India)would hold the position for a period of three years w. e.f December 30, 2014.
“In case Shri Chatterjee is not able to take charge as MD&CEO on December 30, 2024, the bank is advised to immediately propose a suitable interim arrangement (to be made effective post the close of business hours on December 29, 2024) for RBI’s approval, along with a copy of the Board’s resolution, “reads the communique.
Pertinent to mention here that Sudhir Gupta (Jammu & Kashmir Bank) and Amitava Chatterjee (State Bank of India) were in the fray for the coveted position of Managing Director & Chief Executive Officer (MD& CEO) of Jammu & Kashmir Bank Limited.
Sudhir Gupta, who is a son of the soil and has served in key positions in the premier financial institution of J&K, and Chatterjee, who has held various positions in SBI.
Baldev Raj Prakash, the incumbent MD & CEO of J&K Bank, took over the charge on December 30, 2021. On October 27, 2021, the Reserve Bank of India (RBI) approved his name as MD & CEO of Jammu and Kashmir Bank for a period of three years.
It is pertinent to mention that the J&K Government had constituted a high-level search committee for making recommendations for the appointment of MD & CEO of J&K Bank. Headed by the Additional Chief Secretary of the Jal Shakti Department, the committee was mandated to propose four names for further selection of two names by the competent authority to be recommended to the RBI for the position of MD and CEO of J&K Bank. The Principal Secretary of the Finance Department and the Commissioner Secretary of the General Administration Department (GAD) were members of the search panel.
