Jammu & Kashmir Bank Appoints Rakesh Magotra as Chief Compliance Officer
The Jammu & Kashmir Bank Limited has announced the appointment of Mr. Rakesh Magotra as the Chief Compliance Officer (CCO)/Group Compliance Officer (GCO). This appointment was made by the Bank's Board of Directors during a meeting held on July 04, 2026, to strengthen the institution's compliance framework and governance standards.Mr. Magotra takes up the role in place of Mr. Peer Masood Ahmad. The tenure for the new position is set at three years.
Shri Rakesh Magotra brings extensive experience to the role, possessing over 30 years across retail banking, credit management, strategy, operations, governance, and business transformation. His prior experience includes serving as General Manager & Head of Retail Banking Division, where he managed Retail Assets, Agriculture, MSME Financing, Government Sponsored Schemes, and Liability Management.
Mr. Magotra holds a degree from National Institute of Technology (NIT), Jaipur, and the Indian Institute of Management (IIM), Amritsar, having been awarded the Director's Medal. He is currently pursuing a Ph.D. in Economics at IIM Jammu. Since joining J&K Bank as a Probationary Officer in 1996, he has held several senior leadership positions, including Zonal Head, Delhi Zone, Advisor to the Chairman, and Head of Financial Inclusion and Head of Supervision & Control. He has also been involved in leading strategic initiatives related to MSME financing, financial inclusion, startup financing, and institutional partnerships.
Details regarding the change in personnel are summarized below:
| Key Role | Mr. Rakesh Magotra | Mr. Peer Masood Ahmad |
|---|---|---|
| Reason for Change | Appointment | Cessation |
| Date of Appointment/Cessation | July 04, 2026 | July 04, 2026 |
| Term of Appointment | Three (03) Years | NA |
| Brief Profile | Seasoned banking professional with over 30 years' experience. Holds degrees from NIT Jaipur and IIM Amritsar. Currently pursuing Ph.D. in Economics at IIM Jammu. | NA |
J&KBANK Stock Price Movement
The Jammu & Kashmir Bank Limited shares edged higher on Friday, finishing in the financial services sector at ₹165.20 after gaining ₹0.31. Trading volume reached 4.55 million as the stock continued its steady ascent, staying within a tight range and approaching its 52-week high of ₹167.15.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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