Key Details of Appointment
- The Board of Directors of Jammu and Kashmir Bank Limited appointed Mr. Rakesh Magotra as Chief Compliance Officer (CCO)/Group Compliance Officer (GCO).
- The appointment is effective from July 04, 2026.
- The term of appointment is for three (3) years.
- Mr. Magotra replaces Mr. Peer Masood Ahmad in this role, whose cessation from the position also occurred on July 04, 2026.
Board Meeting Details
The decision was made in the Board of Directors meeting held on July 04, 2026. The meeting commenced at 11:00 A.M. and concluded at 05:20 P.M.
Profile of Mr. Rakesh Magotra
Mr. Rakesh Magotra is a seasoned banking professional with over 30 years of experience across retail banking, credit, strategy, operations, governance, and business transformation. He is an alumnus of the National Institute of Technology (NIT), Jaipur, and the Indian Institute of Management (IIM), Amritsar, where he was awarded the Director's Medal. He is currently pursuing a Ph.D. in Economics at IIM Jammu.
He joined J&K Bank as a Probationary Officer in 1996 and has held several key leadership positions, including:
- General Manager & Head of Retail Banking Division
- Zonal Head, Delhi Zone
- Advisor to the Chairman
- Head of Financial Inclusion
- Head of Supervision & Control
His experience includes leading retail assets, agriculture, MSME, government-sponsored schemes, and liability management. He has led strategic initiatives in MSME financing, financial inclusion, startup financing, and institutional partnerships.
Relationship and Debarment Status
The disclosure confirms that there is no relationship between directors to be disclosed (NA) and no debarment of the appointed person (NA).
Financial Impact
Financial impact not quantified in the disclosure.