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 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.
Both of them were appointed as director and nominee of the government in the J&K Bank Board.