Reserve Bank of India (RBI) has appointed A.K Misra, ex Executive Director RBI as Additional Director on the Board of Directors (BOD) of the Jammu and Kashmir Bank Limited.
The appointment has been made in exercise of the powers conferred by sub-section (1) of Section 36 AB of the Banking Regulation Act, 1949 (10 of 1949), an official spokesman said.
His appointment shall be for a period of two years with effect from July 3, 2019 to July 2, 2021 or till further orders.
“He shall hold office during the pleasure of Reserve Bank of India, and subject thereto, for a period of two years upto July 2, 2021 or till further orders, whichever is earlier”, reads the order. As Additional Director on BOD of the JK Bank, Misra shall be entitled to the usual sitting fee and allowances as payable to other directors for attending the meetings of the Board and Committees.