Baldev Prakash on Thursday joined the J&K Bank as its first Managing Director & Chief Executive Officer (MD & CEO). Bank’s Executive President Sunil Gupta, who was flanked by Presidents, Vice-Presidents and other senior officers warmly, welcomed the MD & CEO on his first day at the corporate headquarters.
“With his national level knowledge of policy making and strategizing in critical areas of banking at State Bank of India (SBI) besides international exposure in remittances business including treasury operations at Muscat (Sultanate of Oman), Baldev Prakash brings a wealth of experience and expertise to the Bank’s maiden position of Managing Director & CEO,” a bank statement reads.
Notably, his appointment was approved by the Bank’s Board of Directors during its meeting held on Tuesday, a day after J&K Government appointed him as Director on the board of the Bank. Reserve Bank of India had accorded approval on October 26, 2021 to his candidature as MD & CEO of the Bank for a period of three years from the date of taking charge. Soon after taking the charge from the outgoing CMD, R K Chhibber, MD & CEO Baldev Prakash called a meeting of Presidents and other Vertical Heads to get a brief about the overall organisational structure of the Bank besides taking a preliminary review of different departments and their functions.
Speaking on the occasion, MD & CEO said, “I have come to know very well that J&K Bank has a remarkable legacy of serving the people for over 83 years. With a strong emotional connect of people, it has a systemic significance in the financial landscape of J&K and Ladakh UTs.”Commending the role played by the outgoing CMD, R K Chhibber in steering the institution out of testing times, MD & CEO said, “Mr. Chhibber has played a vital role at the critical juncture and steered the Bank out as a better institution. He has also succeeded in inculcating a compliance culture firmly in the Bank.
” He further said, “I see it as my responsibility to build further upon the Bank’s legacy and work towards transforming it into a new-age financial institution. However, I believe financial institutions today succeed only because of better customer-services, excellent team-work and effective compliance culture.
So, let us keep focus and work as a team so that going forward together we make this institution better in every respect.”Pertinently, having joined State Bank of India (SBI) in 1991, he has over 30 years of experience in banking in various roles at small and large size branches at SBI. Lastly, he was the Chief General Manager, Digital and Transaction Banking Marketing, at SBI, Mumbai.