Srinagar, Oct 27: The Reserve Bank of India has approved the candidature of Baldev Prakash as Managing Director and Chief Executive Officer of Jammu and Kashmir Bank for a period of three years.
In a note to exchanges on 27 October, the RBI said: “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that the Reserve Bank of India has vide letter no. DOR.GOV.No.1865/08.39.001/2021-22 dated October 26, 2021 accorded approval to the candidature of Mr. Baldev Prakash as Managing Director and Chief Executive Officer (MD and CEO) of the Bank for a period of three years from the date of taking charge or April 10, 2022, whichever is earlier.”
“The appointment of Mr. Baldev Prakash as MD & CEO by the Board of the Bank and the actual date of his taking charge shall be communicated separately.”
Prakash, who has over 30 years of experience in the banking industry, is currently working as Chief General Manager at SBI Corporate Centre, Mumbai. He holds a bachelors degree in Commerce and has done his masters in History.
Presently, RK Chhibber is the Chairman and Managing Director of J&K Bank, who assumed charge of the bank in June 2019.
Jammu & Kashmir Bank stock traded at Rs 43.20 apiece on BSE, up 5.62 per cent from the previous close.