Total Directors on Board now 8, more soon
Panel to give report on bifurcating CMD post
Neeraj Rohmetra
JAMMU, Jan 11: The Government today appointed two more Directors on the Board of Jammu and Kashmir Bank including a Director Corporate Solutions and a Chartered Accountant, taking total number of Directors to eight amid indications that the Bank could still get couple of more Directors.
The new Directors appointed today on the Board of Jammu and Kashmir Bank included Monika I Dhawan, Managing Director and Founder of Fusion Corporate Solutions Private Limited and Dr Rajeev Kumar Singh, a Chartered Accountant, who had earlier served in the Board of Directors of another nationalized Bank.
Official sources told the Excelsior that the appointments were made today and this has taken total number of Directors on the Board of Jammu and Kashmir Bank to eight. Six other Directors of the Bank included RK Chhibber, who is also Chairman and Managing Director (CMD) of the Bank, Dr Arun Kumar Mehta, Financial Commissioner (Finance) in J&K Government, Bipul Pathak, Principal Secretary to Lieutenant Governor Girish Chandra Murmu, Anil Kumar Misra, Vikram Gujral and Sonam Wangchuk.
The two newly appointed Directors of Jammu and Kashmir Bank will have a three-year term, sources said, adding that the Government was likely to appoint couple of more Directors to the Bank.
Sources expressed confidence that the new steps being taken by the Government will further improve functioning of the Jammu and Kashmir Bank and take the prestigious institution to new heights.
“The Government has also set up a high-level Committee for bifurcation of the post of Chairman-cum-Managing Director of the Jammu and Kashmir Bank. The Committee will frame guidelines and suggest powers of the Chairman as well as Managing Director of the Bank after bifurcation of the post of CMD,” sources said and added that the post will be bifurcated once the Committee submits its report.
The Government is of the view that bifurcation of the post of CMD and having two banking personalities-one as the Chairman and another as the Managing Director-will ensure effective functioning of the Bank.
Monika I Dhawan, nominated today as the Director of Jammu and Kashmir Bank is Managing Director and founder for Fusion Corporate Solutions Pvt Ltd and have over two decades of experience and expertise in communication as well as IMAC Analyst. She was instrumental in designing and running various Intellectual properties for the Multinational Companies in India like Nokia, NSN, Bacardi, Wipro, Best Employee etc. She has executed more than 3000 events and exhibitions so far.
She had been “Ambassador” (India) for Women in Africa Club in 2017. An active member of Art of Living, she is also core team member for World Cultural Festival in India. She has been awarded with ‘Women Achievers Award’ for inspiring women as a ‘Young Woman Entrepreneur’.
Another newly appointed Director Rajiv Kumar Singh, CA is a Fellow Member of the ICAI, a qualified Certified Information System Auditor and Valuer from the ICAI. He is an expert on Business Valuation, Bank, Corporate Finance and Strategy, M&A, Restructuring, Forex Risk Management, Internal Controls and Valuation related to litigation including economic damages.
Singh has trained more than 4000 Chartered Accountants/ Company Secretaries/MBAs in India and Nepal and has been a speaker in more than 700 seminars and training programmes on valuation, banking and finance related topics at different professional/industry platforms.
Presently, besides the Chairman R K Chibber, there are five Directors including Arun Kumar Mehta, Financial Commissioner; Anil Kumar Misra, Dhaman Kumar Pandoh, Vikram Gujral and Sonam Wangchuk”.
“While Arun Kumar Mehta, Financial Commissioner (Finance) is nominee of the State Government, Misra, who is former Executive Director of RBI was appointed on July 4, last year for a period of two years to further strengthen the board”, sources said, adding, “Vikram Gujral and Sonam Wangchuk both had been appointed as rotational Directors with one year tenure”.
Sonam Wangchuck had earlier served as Advisor for MS Denmark in Nepal on a bilateral project of the Danish Government and Gujral, who is also member of J&K High Court Bar Association, has vast experience of 25 years in field of construction and cement industry.
Chhibber had joined the services of the Bank as Probationary Officer in the year 1982 and has led the Bank in different capacities from managing business operations at Branch and Zonal officers to the Corporate Level across the operational geography of the Bank.
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