RK Chhibber replaces Pervez Ahmad as J&K Bank Chairman, Vigilance sleuths raid bank headquarters

Jammu and Kashmir government on Saturday appointed RK Chhibber as the interim chairman and the Director on the Board of Directors of the J&K Bank.

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

In an order issued on Saturday, the government said: “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 bank.”

“RK Chhibber is hereby nominated as the Director on the Board and may be further appointed as the intermin Chairman cum Managing Director of the Board,” the order read further.

“These directions shall come into effect immediately,” read the order, signed by Vishal Sharma, additional secretary to the government, Finance Department.

Meanwhile, minutes after the removal of Parvez Ahmad as chairman of the Jammu and Kashmir Bank, state vigilance organisation sleuths Saturday raided the financial institution’s corporate headquarters here, officials said.

The vigilance organisation was looking for records of nearly 1,200 appointments allegedly made at the behest of political masters of the previous PDP-BJP government in the state and during Ahmad’s tenure, they said.

The sleuths raided the bank’s corporate headquarters at M A Road here soon after the state government dismissed Ahmad and appointed executive president R K Chibber as the bank’s interim chairman, the officials said.

Chibber replaces Ahmad, who was appointed in 2016 as the chairman of the Jammu and Kashmir Bank.

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,” an order issued by Additional Secretary,Finance, Vishal Sharma said here.

The order said Chibber has been appointed as the interim chairman and the director on the Board of Directors of the Jammu and Kashmir Bank.

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, the order read.