Six months after appointing the new Managing Director (MD) of J&K Bank, the government hasn’t made any effort to get clearance for him from the Reserve Bank of India (RBI).
This leaves the in-charge chairman of the bank with the dual post of Chairman and Managing Director (CMD). This ad hoc arrangement continues despite the government having pledged to split the post of the chairman and the MD of the bank.
On April 24, 2020, J&K bank invited applications for the position of MD. According to sources, 38 candidates applied for the post in response to the advertisement. On May 12, 2020, interviews were held for shortlisted candidates by a search committee constituted by the government and comprising three members under the chairmanship of Ex Union Corporate Affairs Secretary, Tapan Ray, Financial Commissioner, J&K, Dr Arun Kumar Mehta and Officer on Special Duty (OSD) in the department of Financial Services, Union Ministry of Finance, Anand Madhukar.
