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J&K Bank spurts after RBI approves Baldev Prakash as MD, CEO

Capital Market 

Jammu & Kashmir Bank jumped 5.62% to Rs after Reserve Bank of India (RBI) approved appointment of Baldev Prakash as the bank's MD and CEO for three years.

RBI on 26 October 2021 approved the candidature of Baldev Prakash as managing director and chief executive officer (MD and CEO) of Jammu & Kashmir Bank for a period of three years from the date of taking charge or 10 April 2022, whichever is earlier.

The appointment of Baldev Prakash as MD & CEO by the board of the bank and the actual date of his taking charge shall be communicated separately.

Jammu & Kashmir Bank reported a net profit of Rs 104.32 crore in Q2 September 2021, steeply higher than net profit of Rs 6.50 crore in Q2 September 2020. Total income rose 2.48% to Rs 2211.48 crore in Q2 September 2021 over Q2 September 2020.

Jammu and Kashmir Bank (J&K Bank) is a scheduled commercial bank and one of the oldest private sector Bank in India, incorporated in 1938.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, October 27 2021. 12:23 IST