The Jammu and Kashmir administration Thursday appointed former VP of HDFC bank, Zubair Iqbal as chief financial consultant in the finance department.

In an order issued by the finance department of Jammu and Kashmir, it was noted that the salary for the position will be Rs 2 lakh per month.
“In terms of rule 194 of GFRs-207, sanction is hereby accorded to the engagement of Mr. Zubair Iqbal as chief financial consultant in the finance department,” reads the order signed by lieutenant governor Manoj Sinha.
The government order further said that the nature of the job was contractual and the term would be for one year after the date of joining.
Earlier, the J&K administration had withdrawn the nomination of the top banker as director from the Board of Directors at Jammu and Kashmir Bank.
The development took place nearly ten months after the nomination of Zubair, VP of HDFC Bank, in May last year, by the J&K government as its nominee/Director on the Board of J&K Bank Ltd. for a period of three years or till further orders, whichever was earlier, but his appointment was not cleared by the Reserve Bank of India.
An official communiqué by Company Secretary, J&K Bank, Muhammad Shafi Mir to National Stock Exchange of India Limited and BSE Limited, said Zubair, government nominee/Director (DIN:08742685), has ceased to be the Director of the Board of Bank consequent upon withdrawal of his nomination by the Government of Jammu & Kashmir pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.