Fullerton appoints Rakesh Makkar as head of lending business

Mumbai:Fullerton India Credit Co. Ltd, the non-banking financial company (NBFC) controlled by Singapore-based sovereign wealth fund Temasek Holdings, on Thursday appointed Rakesh Makkar as executive vice-president and head of its urban and rural lending business.

He replaces Ravi Shankar who joined IDFC to head its rural business in its new banking venture.

“Makkar will spearhead the company’s growth across its 400 branches ...additionally, he will be heading the marketing and corporate social responsibility (CSR) function,” Fullerton said in an email release. The company’s loan book in India consists of mortgage loans, loans to small companies, personal loans and rural loans.