Shantanu has more than 30 years of experience in financial services
Shantanu Mitra-who was the deputy CEO overseeing risk management and the urban business at Fullerton India-takes over as the CEO of the company on 1 August 2011.
Shantanu joined the parent company Fullerton Financial Holdings, Singapore in early 2010 as the head of consumer risk management for consumer markets across all operational entities in various countries including India. He later also started heading the urban markets business at Fullerton India. Following the end of the term of the earlier CEO Ruben Mora, Shantanu has been elevated to the position of CEO and president of Fullerton India.
Shantanu has more than 30 years of experience in financial services, with about 20 years at Standard Chartered and Citibank where he had stints in India, Singapore and Thailand. Prior to joining Fullerton, he was senior regional risk officer, India, Middle East & Africa at Standard Chartered Bank, based in Mumbai. Shantanu began his career at Arthur Young & Co and later Moore Stephens & Co, both chartered accounting firms located in London.
Fullerton India has a widespread presence in over 325 urban and rural markets through its own branch network.
Telecom minister Kapil Sibal wants to reach out to the masses in the rural areas with modern banking facilities through the post offices
The humble post office is all set to undergo a radical change with a proposal to convert over 1.5 lakh post offices across the nation into full fledged banks on the anvil.
Telecom minister Kapil Sibal wants to reach out to the masses in the rural areas with modern banking facilities through the post offices. "We want to commercialise the department. We will seek a licence from the RBI to convert all our post offices into banks," Mr Sibal told PTI.
The lack of modern banking facilities in rural areas and dependence of villagers on informal sector for their credit requirements has prompted the government to work on financial inclusion by way of setting up 'postal banks'.
"The State Bank of India can't build branches all over India, but there are post offices across India. The branches are already there, so infrastructure expenditure is not required. So you can actually give banking facilities at relatively lower costs, which would be extremely beneficial to people," he said.
To make IPO more investor friendly, SEBI has revised the structure, design, format, contents and order of information of the IPO form and prospectus
Market regulator SEBI made it simpler for investors to apply for shares in initial public offer (IPO) by cutting down the paper work and removing unnecessary details.
At the same time, SEBI also decided in favour of investors getting more useful information, such as track record of bankers managing the issue and important details related to the pricing of the offer.
To make IPO more investor friendly, SEBI has revised the structure, design, format, contents and order of information of the IPO form and prospectus.
"This has been done based on recommendations of group constituted by SEBI, comprising cross section of market participants. The revised Abridged Prospectus shall contain company/project specific information and highlight materially relevant disclosures such as peer comparison of important financial ratios and risk factors," it said. Information which is generic in nature would be given in a separate document and not in the main form.
The size of the form in the prospectus would be reduced to a normal A4 paper size while number of pages would be reduced to half. The information would be given in a readable and investor friendly manner while highlighting information related to the pricing, SEBI said.
Besides, these forms run into 15-20 pages in most cases, although there are only 2-3 pages where particulars need to be filled in by the investors and the rest of the pages contain instructions, information about the company and the issue and details about bankers, registrars and bidding centres.
"Board has approved the simplification and rationalisation of trading account opening process with stock brokers," Sebi said.