Srinagar: The government on Friday appointed RK Chibber as chairman J&K Bank for next three years and Zubair Iqbal as its managing director.

Late on Friday, finance department issued two separate orders in this regard.

“I am directed to convey that the Government of Jammu and Kashmir has taken the following decision in exercise of the powers under Article 69(i) of the Articles of Association of the J&K Bank: Mr RK Chhibber, chairman-cum- managing director, shall be a non- executive director on the Board of J&K Bank Ltd. for a period of three years or till further orders, whichever is earlier.

Consequently, the Board of the J&K Bank Ltd may appoint/elect him as the chairman of the Board of the Bank.

Similarly, Senior Vice President, HDFC Bank Zubair Iqbal has been appointed as Managing Director of the J&K Bank.

Zubair confirmed to Kashmir Reader about his appointment.

An order issued by the Finance department on Friday said that the government has decided to appoint Zubair as a government nominee/director on the Board of J&K Bank for a period of three years.

“The government of Jammu and Kashmir has, in exercise of the powers under Article 69 (i) of the Articles of Association of J&K Bank Ltd, decided to appoint Mr Zubair Iqbal, Senior Vice President of HDFC Bank as a Government nominee/Director on the Board of J&K Bank Ltd. for a period of three years or till further order, whichever is earlier,” it said.

“Consequent to the above, the Board of the J&K Bank Ltd. may appoint/elect him as the Managing Director of the J&K Bank Ltd. The above decision shall come into effect immediately,” it added.

He extensively spearheaded growth of HDFC in his 15 years term at the bank. Zubair has set a good track record in banking and financial services spanning more than three decades. This includes, 15 years each with J&K Bank and HDFC.

For his contribution in banking sector in J&K, Zubair was awarded by institute of Objective studies New Delhi and earned 50 laurels at HDFC. In August, he is scheduled to deliver a leadership talk organised by UK Asia Stem Summit at Cambridge University.

Reader correspondent