J&K Bank on Monday said the Reserve Bank of India has approved an extension of one month to R K Chhibber to continue as the bank's interim chairman and managing director.
"The board of directors of the bank in their meeting held on 25th September, 2019, subject to the approval of Reserve Bank of India, extended the term of office of R K Chhibber, as interim chairman & MD of the bank by a further period of one month with effect from 10th October, 2019, ie up to 9th November, 2019," the bank said in a regulatory filing.
Earlier to this, Chhibber's term as the interim CEO was on one-month extension from September 10.
He was appointed as the bank's interim CEO for three months in June this year following the removal of Parvez Ahmed from the post by the state government.
Ahmed was removed by the state government on alleged charges of corruption, nepotism and favouritism.
He was appointed as chairman and CEO of J&K Bank in October 2016 and his tenure was to end in a few months.
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