Chitra Ramkrishna

Chitra Ramkrishna (born 1963) is an Indian businesswoman and the former CEO of the National Stock Exchange (NSE).[2] In March 2022, she was arrested by the CBI for her involvement in the 'yogi scam'.

Chitra Ramkrishna
Born1963 (age 58–59)
NationalityIndian
Education
OccupationFormer MD & CEO of NSE[1]
PredecessorRavi Narain

Early career

Starting out as a chartered accountant, her first brush with finance came in 1985 when she joined the project finance division of Industrial Development Bank of India (IDBI). Ramkrishna then had a stint at Securities and Exchange Board of India (SEBI) and returned to IDBI two years later.[3] She was selected by the late S. S. Nadkarni, who was then IDBI chairman, to set up NSE from scratch.[3]

Career with NSE

Ramkrishna was part of the team created to set up the NSE to provide a fully automated, screen-based trading system.[4][5]

She has been associated with matters pertaining to market regulation and policy making even before the NSE was set up. In the late 1980s, Ramkrishna was involved in the drafting of the legislative framework of the Securities and Exchange Board of India (SEBI), the country's capital market regulator. She continues to be a part of several SEBI committees on different policy issues such as the Secondary Market Advisory Committee and the Committee on Disclosures and Accounting Standards.

She set up a pan-India VSAT network and building the infrastructure and legislative framework for India's first depositor.

She has been asked by SEBI to disgorge 25 percent of the salary drawn for FY 2013-14, to the IPEF. The regulator has also found Chitra Ramkrishna guilty in the case. She has been prohibited from associating with a listed company or a market Infrastructure Institution or any other market intermediary for a period of five years.[6]

'Himalayan Yogi' case

In February 2022, the Securities and Exchange Board of India (SEBI) said that for the past 20 years, she had been allowing an unidentified 'Himalayan yogi' to advise her on important decisions.[7] The case is being under investigation under Central Bureau of Investigation (CBI). In the process, she leaked key business secrets pertaining to day to day operations. [8][9] She has been arrested by the CBI on 7th March 2022.

Awards

Ramkrishna was named Forbes' Women Leader of the Year in 2013 for her work as CEO of the National Stock Exchange of India.[3]

See also

References
  1. "Subramanian Anand resigned from NSE". MoneyLife.
  2. "NSE".
  3. "Forbes India".
  4. ET. "Chitra Ramkrishna will head NSE from April 2013 – Economic Times". Webcache.googleusercontent.com. Archived from the original on 11 April 2013. Retrieved 15 February 2013.
  5. Special Correspondent (26 November 2012). "Business / Companies : Chitra Ramkrishna to be new CEO, MD of NSE". The Hindu. Retrieved 15 February 2013.
  6. "Co-location case: SEBI bars NSE from securities market for 6 months; directs exchange to 'disgorge' Rs 625 cr". moneycontrol.com. 1 May 2019. Retrieved 1 May 2019.
  7. Roy, Abhirup (13 February 2022). "Himalaya yogi ran India's top bourse as puppet master, regulator says". Reuters. Mumbai. Retrieved 14 February 2022.
  8. "Tainted NSE chief Chitra Ramkrishna claims a 'spiritual force' guided her for 20 years".
  9. "Chitra Ramkrishna, the NSE CEO who let a faceless conman 'yogi' make all key decisions".
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