Rajesh Kumar Chhibber Explained

Rajesh Kumar Chhibber
Native Name:राजेश कुमार छिब्बर
Office:Chairman & CEO of Jammu and Kashmir Bank
Governor:Manoj Sinha
Term Start:10 June 2019
Term End:27 October 2021
Predecessor:Parvez Ahmad
Successor:Baldev Prakash[1]

Rajesh Kumar Chhibber is an Indian banker and was the former CEO and managing director of Jammu and Kashmir Bank (J&K Bank).[2] [3]

Banking career

Chhibber joined the services of J&K Bank as Probationary Officer in 1982.[4]

Chhibber was appointed as Interim Chairman and Managing Director of J&K bank from 10 June 2019 after fraud allegations against the previous Chairman. He was promoted and served as the chairman and Managing Director of the bank under section 10BB of the Banking Regulation Act, 1949 from 10 October 2019.[5] [6]

In 2019, following the formation of the union territories of Jammu and Kashmir, the Anti-corruption Bureau started investigations into alleged corrupt practices by a number of bank officials, including former bank chairpersons Parvaiz Ahmad Nengroo and Mushtaq Ahmad Sheikh.[7] [8]

In June 2019, the Reserve Bank of India approved the appointment of Chhibber as interim chairman and managing director (CMD) of the Bank, following the removal of Parvez Ahmad from the post by the state government.[9] [10]

He also served as the Chairman of J&K Grameen Bank an Indian Regional Rural Bank. He was elevated as the Executive President on 1 June 2018.[11] [12]
He was succeeded by Baldev Prakash on 27 October 2021.[13] [14]

Notes and References

  1. Web site: Baldev Prakash takes charge as J&K Banks first MD & CEO . Jammu & Kashmir Bank . 31 January 2024.
  2. Web site: RBI extends J&K Bank CMD R.K Chhibber’s tenure by six more months . The Kashmir Monitor . 2021-07-06.
  3. Web site: RBI extends CMD R. K. Chhibber's tenure by further six months at Jammu & Kashmir Bank . India info line . 2021-07-06.
  4. Web site: RK Chibber . Jammu and Kashmir Bank . 2021-07-06.
  5. Web site: J&K bank chairman R.K. Chhibber gets another six- months extension . The Economic Times . 2021-07-06.
  6. Web site: ‘Irregularities’ in appointments, loans at heart of J-K Bank raids . The Hindustan Times . 2021-07-06.
  7. Web site: 2019-10-20 . J&K Bank loan fraud: Anti-corruption bureau lodges FIR in ₹1,100 cr scam . 2020-08-08 . Livemint . en.
  8. Web site: Sharma . Arun . 2019-10-21 . FIR against J&K Bank ex-chief, 23 others for Rs 1,100-crore fraud. 2020-08-08 . The Financial Express . en-US.
  9. Web site: RBI okays RK Chhibber as interim CMD of J&K Bank; post of chairman, MD to be split . The Economic Times . 2021-07-05.
  10. Web site: Chhibber Gets 6 More Months Extension as JK Bank M.D. . Kashmir observer . 2021-07-06.
  11. Web site: CMD of J&K Bank, R.K. Chhibber gets another 6 months extension by RBI . adda 247 . 2021-07-06.
  12. Web site: Executive president of J&K Bank, R K Chhibber inaugurating new premises of Rohtak BU. . Daily Excelsior . 2021-07-06.
  13. Web site: RBI approves appointment of Baldev Prakash as J&K Bank MD & CEO . The Economic Times . 2021-10-28.
  14. Web site: RBI approves appointment of Baldev Prakash as J&K Bank MD & CEO . Business-Standard . 2021-10-28.

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