RBI Approves Appointment of Amitava Chatterjee as MD & CEO of J&K Bank
The Reserve Bank of India (RBI) has approved the appointment of Shri Amitava Chatterjee as the Managing Director and Chief Executive Officer (MD & CEO) of Jammu and Kashmir Bank Limited. The approval comes under Section 35B of the Banking Regulation Act, 1949.
Shri Chatterjee will assume office on December 30, 2024, for a tenure of three years. His fixed annual compensation has been set at INR 1.40 crore, inclusive of perks, with a target variable pay of the same amount noted by the RBI.
In case Shri Chatterjee is unable to take charge on the designated date, the bank has been directed to propose an interim arrangement, effective from December 29, 2024, post-business hours. This proposal must be accompanied by a Board resolution and submitted to the RBI for approval.
This strategic appointment is expected to play a pivotal role in shaping the bank’s future growth trajectory. (QNS)
