Ten months after moving to J&K over expectations to be appointed as the new CEO at crisis ridden Jammu and Kashmir Bank, the Reserve Bank of India is yet to clear the appointment of former HDFC Bank VP, Zubair Iqbal. Sources indicate that Iqbal was asked to
stop attending office till the regulator clears his appointment.
In May last year, the Jammu and Kashmir administration had cleared the appointment of Iqbal after a selection process overseen by a high level 3-member committee.
In May last year, the Jammu and Kashmir administration had cleared the appointment of Iqbal after a selection process overseen by a high level 3-member committee.
“It’s quite unfortunate that the regulator has been dragging its heels on Iqbal’s appointment since the last 10 months, in fact several shareholders have even shot off letters of complaint to the RBI and the bank board about the
CEO’s appointment, but there hasn’t been any response,” an official in the know said.
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