Pratik D Punjabi is new CFO J&K Bank
Srinagar: Pratik D Punjabi has joined as new Chief Financial Officer (CFO) of J&K Bank replacing Rajni Saraf who attained superannuation on June 30.
Punjabi was appointed as CFO by the Bank’s Board of Directors on June 10 for a three year term.
Pratik D Punjabi brings a wealth of knowledge and rich experience to the CFO position in the Bank.
Having 22 years of professional experience in finance, he has functioned mainly with MNCs Banks with focus on contemporary finance that primarily includes Financial Control, Financial Compliance, MIS, Strategy, Business Finance, Branch Profitability Analysis, Setting-up systems, Process studies and evaluation of projects and viability studies. He has been in Finance-leadership roles for over 8 years.
Notably, the Chief Financial Officer (CFO) is a c-suite executive responsible for managing the financial matters of a company and defined among Key Managerial Personnel (KMPs) as per Section 2(51) of the Companies Act 2013. The appointment is in compliance to the regulatory requirements of RBI which prescribe that the CFO should be a qualified Chartered Accountant with professional experience of fifteen years in overseeing financial operations, preferably accounting and taxation matters, in banks/large corporates/PSUs/ FIs/financial services organizations, of which 10 years should be in Banks/FIs (of which five years should be at senior management level).
