Removed! Parvez Ahmad no longer J&K Bank Chairman; RK Chibber appointed interim chief

In a major development, the Jammu and Kashmir government Saturday removed J&K Bank Chairman Parvez Ahmad. Moreover, the J&K government appointed R K Chibber as interim chairman of the lender.

According to an order issued by Additional Secretary, Finance, Vishal Sharma, "Parvez Ahmad, Chairman cum Managing Director, shall cease to be Director on the Board of Directors of the Bank and consequently be no longer the Chairman cum Managing Director of the board."
 
"R K Chibber has been appointed as the interim chairman and director on the board of directors," the order added. "R K Chibber is hereby nominated as the Director on the Board and may be further appointed as the interim Chairman cum Managing Director of the Board," it added.

Chibber will replace Ahmad, who was appointed in 2016 as the chairman of the bank.

Sharma said the directions shall come into effect immediately.