‘Effective arrangement in place to run JK Bank’
Srinagar, Sept 1: Jammu and Kashmir Bank today said the arrangement put in place by the Board of Directors will ensure complete continuity in the management of Bank’s affairs, till the appointment of new Chairman and CE.
“Following the resignation of Dr Haseeb A Drabu as Chairman and CE of Jammu and Kashmir Bank, the Bank on the advice of RBI has already put in place an effective interim arrangement for overseeing the smooth functioning of the institution till RBI appoints a suitable successor,” a spokesman of the Bank said.
Pursuant to the practice followed by RBI for Banks, for managing the daily affairs during interim period and advice received in this regard from the Regulator, Committees of Directors have already been constituted for discharging the functions relating to financial and non-financial matters, the spokesman said.
Sudhanshu Pandey, IAS, Commissioner/Secretary, Finance Department, Government of J&K, who is heading both these apex committees, has reiterated that the Bank has enough depth at leadership level to manage its affairs professionally.
The frequency of Board/ committee meetings has also been increased to ensure speedy disposal of the proposals. The meetings were chaired by Sudhanshu Pandey, in his capacity as Government Director, in pursuance to the provisions of Articles of Association.
Interactions have also been held with Executives of the Bank to ensure that the envisaged Business and Profitability targets are met, the spokesman said.
Lastupdate on : Wed, 1 Sep 2010 21:30:00 Makkah time
Lastupdate on : Wed, 1 Sep 2010 18:30:00 GMT
Lastupdate on : Thu, 2 Sep 2010 00:00:00 IST
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