Srinagar, Dec 24: The Reserve Bank of India (RBI) has approved the appointment of Amitava Chatterjee as the Managing Director and Chief Executive Officer (MD & CEO) of Jammu and Kashmir Bank Limited.
As per the order, the appointment is effective from December 30, 2024, for a period of three years.
The order further reads that Chatterjee will receive a fixed annual salary of INR 1.40 crore, including perquisites. The bank’s variable pay target of INR 1.40 crore has also been acknowledged by the RBI, it added.
It also reads that in case Chatterjee is unable to take charge on December 30, 2024, the bank has been advised to propose an interim arrangement, effective from the close of business on December 29, 2024.
The proposed interim arrangement will require approval from the RBI along with a copy of the bank’s Board resolution, the order reads further.
