The Jammu and Kashmir administration on Friday approved the appointment of senior vice president of HDFC Bank Zubair Iqbal as the new managing director of Jammu and Kashmir Bank.
R.K Chibber will continue as the bank's chairman for the next three years.
Iqbal will have a three-year tenure.
An order to this effect was issued by the additional secretary to the finance department on Friday night.
"Consequent to the above (decision of appointment), the board of J&K bank may appoint him (Iqbal) as managing director of J&K bank," the order said.
In another order, Chibber, who is currently MD and Chairman of J&K bank, has been reappointed as the chairman for the period of three years.