SRINAGAR: Citing that uncertainty was not good for growth of any institution, Chief Minister Omar Abdullah on Tuesday requested the Reserve Bank of India (RBI) to speed up their decision on term extension of Mushtaq Ahmad as Chairman and CEO of the Jammu and Kashmir Bank.
“Mushtaq Ahmad’s first term as chairman of J&K Bank is about to end, a long due request has been put to RBI that we will like to continue with him as the Chairman of J&K Bank,” Omar said during the inaugural function of the bank’s National Business Centre in Bandra Kurla Complex, Mumbai.
“I urge the deputy governor to intervene and help speed up the decision-making process.”
The chief minister said that the state survived the last 25 years of turmoil with great help from the J&K Bank.
“At the time, when almost every other institution backed out and left, J&K Bank was the only institution not just servicing the banking needs but fulfilling other financial requirements of the state,” he said, according to a local news agency, KNS.
“It is a journey from an institution to a well known entity within and outside the J&K State. Under the leadership of Mushtaq Ahmad, no goal seemed to be unachievable,” he added.
