MEET CA BASANT SETH AUTHOR OF THE NEW BANK BRANCH APPOINTMENT POLICY

DEAR MEMBERS,

I am really happy to see the speed of the working in the finance ministry to phase out the branch statutory auditors.

On 29th February 2012,CA Basant Seth Retired as Chairman of Syndicate Bank. From Ist March 2012, He has taken over as Information Commissioner under RTI .

Meanwhile he has been appointed to a committee to submit its report on bank audit reforms. He didn't wasted any time. He didn't invited any suggestions from stake holders. Our president has specially crafted a group to facilitate his working. Any how an established system of Banking auditing have been put to rest .

Shri Basant Seth

Information Commissioner Room No.8, Club Building, Old JNU Campus New Delhi - 110 067. Phone: - 011 - 26160943 E-mail : - b.seth@nic.in

Curriculum Vitae

 

Name	Basant Seth
Date of Birth	16 Feb 1952
Education Qualification	Post Graduate Diploma in Bank Management Chartered Accountancy Bachelor of Science
Area of Eminence	Banking & Finance, Management, Administration & Governance
Achievements / Work done / Experience : Qualified Chartered Accountant with a Post Graduate Diploma in Bank Management having over 37 years experience in the areas of Banking & Finance, Corporate and Taxation Laws, Accounting Standards, Audit Functions, Compliance, Administration etc. Joined Bank of India, a Public Sector Bank as Direct Recruit Officer in April 1974. Held various positions at field level including overseas posting and in administrative offices, posted as General Manager and Chief Financial officer of the Bank from October 21, 2002 to April 30, 2006 and thereafter as Chief Risk Officer upto February 28, 2007. Deputy Managing Director, Small Industries Development Bank of India (SIDBI) from March 01, 2007 to August 30, 2009. This was a Board Level appointment at par with whole time Directors of Public Sector Banks. Chairman & Managing Director, Syndicate Bank from August 31, 2009 to February 29, 2012.   Others : Was Bank of India's nominee on the Board of Directors of Indo-Zambian Bank, a joint venture with the Government of Zambia and on Commonwealth Finance Corporation Ltd., a company located in Hong Kong. Worked as Member of Auditing and Assurance Standards Board and also Study Group on International Financial Reporting Standards constituted by Institute of Chartered Accountants of India and Committee on Taxation constituted by Indian Banks Association.

He has submitted this report while working as Information Commissioner.

 

CA AMRESH VASHISHT, FCA, LLB,DISA(ICAI)