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New Chairman for J&K Bank

Shujaat Bukhari

SRINAGAR: The Economic Adviser to the Jammu and Kashmir government, Haseeb Drabu, has been appointed the new Chairman of Jammu and Kashmir Bank. He will succeed Mohammad Yusuf Khan whose extended term expires on May 31.

Following the State Government's recommendation the Reserve Bank of India has approved Dr. Drabu's appointment as CMD of the bank for a term of three years. The RBI has also asked the Government to appoint an Executive Director on the board of the bank.

Former editor of Business Standard, the 43-year-old Dr. Drabu is a reputed economist and fiscal expert. He started his career with Planning Commission and was also on former Prime Minister P V Narsimha Rao's advisory panel. As Economic Adviser to the State Government, he is credited with having successfully negotiated the Rs 2,000-crore development package for J&K from the Asian Development Bank. Last month he was appointed by the Prime Minister on his high-level task force to work out a development strategy for J&K.

He is the only Kashmiri on this high-power panel headed by former RBI Governor C Rangarajan.

Dr Drabu has been on the board of directors of J&K Bank for the last two years.

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New Chairman for J&K Bank

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