In 2019, in the co-location scam case, SEBI ordered the NSE to pay up Rs624.89 crore along with 12 per cent annual interest from Apto SEBI’s investor protection and education fund. But the exchange that was set up to make share trading transparent is now beset with controversies. The NSE today is India’s largest financial market and the largest derivatives exchange in the world.
She was the first woman to head an Indian stock exchange and was credited for several initiatives, including screen-based trading. Ramkrishna became deputy CEO in 2009 and succeeded Narain as MD and CEO in 2013. Patil, who was then the executive director of IDBI, set up the exchange and Ramkrishna, along with Ravi Narain and Ashish Kumar Chauhan, was part of his core team. The NSE ushered in a satellite data and screen-based trading system. That was a time when stocks were bought and sold on a trading floor where brokers gathered and traded using hand signals and by shouting across the room.įollowing the scam, the government felt the need to make trading more transparent. Eventually markets crashed and investors lost crores of rupees. Mehta, a share broker, manipulated the prices of several stocks by illegally obtaining money using fake bank receipts. The NSE was incorporated in 1992 and commenced its operations in 1994, as a response to the Harshad Mehta scam at the Bombay Stock Exchange in 1992. While all these happened, the NSE board and public interest directors look away. She appointed Anand Subramanian, an executive who had little relevant experience, as her adviser.
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Look out notices have been issued against them as well as Subramanian so that they will not leave the country.Ĭhitra Ramkrishna, managing director and chief executive of the NSE between 20, apparently, had been sharing confidential information to a mysterious Himalayan yogi and seeking advice from him for making professional decisions. The CBI has questioned Ramkrishna and Ravi Narain.
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