MUMBAI, Sept 18: Jammu & Kashmir Bank today said its chairman and chief executive Mushtaq Ahmad has been reappointed for a three-year period after the Reserve Bank cleared the proposal.
In a statement, the Srinagar-headquartered bank, which is majority owned by the state government and is a listed entity, said it received a communication to this effect yesterday.
Interestingly, J&K chief minister Omar Abdullah had recently made a public pitch for an early clearance to the proposal.
Abdullah, who made the plea at a bank event also attended by RBI deputy governor HR Khan last month, had commended the performance of the bank under the leadership of Ahmad since he took charge in October 2010.
The bank’s overall business has crossed the Rs 1 lakh crore mark and it registered a net profit of Rs 1,000 crore during the last fiscal. (PTI)
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