Mr. Tuhin Kanta Pandey took charge as Chairman, Securities and Exchange Board of India in Mumbai on March 01, 2025.

Mr. Pandey is an IAS Officer of Odisha Cadre belonging to 1987 batch. Before joining SEBI he served as Union Finance Secretary, Revenue Secretary and Secretary, Department of Investment & Public Asset Management (DIPAM), Secretary, Department of Public Enterprises and Secretary, DOP&T.

Mr. Pandey has held many significant positions in Union Government and State Government of Odisha, in addition to serving a stint in the Regional Office of the United Nations Industrial Development Organisation (UNIDO).

In the Union Government, his previous organisations include Planning Commission (Now Niti Aayog), Cabinet Secretariat and Ministry of Commerce.

In State Government of Odisha, he served as administrative head in the Departments of Finance, Health, General Administration, Commercial Taxes and Transport.

In his career spanning over more than three decades, Mr. Pandey has wide experience in the areas of Economy & Finance, Industrial Development, Tax policy and administration and has been instrumental in bringing about several institutional innovations, new policies and systems in the Departments he has served.

He holds a Masters Degree in Economics from Panjab University, Chandigarh and Master of Business Administration from the University of Birmingham (UK).

Mr. Kamlesh Chandra Varshney took charge as Whole Time Member, Securities and Exchange Board of India (SEBI) in Mumbai on 20th September, 2023. Prior to this assignment he was Joint Secretary (Tax Policy and Legislation) in the Department of Revenue.

Mr. Varshney is MBA from IIM, Lucknow and is also a law graduate. He has also worked in Merchant Navy after being trained in T.S.Rajendra.

Mr. Varshney is 1990 batch Indian Revenue Service Officer who has worked in various capacities in the Income-tax Department and Finance Ministry. He was the first Commissioner of Advance Pricing Agreement and has a distinction of rolling out APA program successfully in India. He is on the panel of tax experts of UNDP. He has worked for five years with tax administration of Papua New Guinea helping them in investigation and capacity building. Mr. Varshney is recipient of the Finance Minister Award for his contribution to Indian Tax policy and Vivad Se Vishwas Scheme. Mr. Varshney is a sports enthusiast and loves teaching

Mr. Varshney is handling various departments like Market Intermediaries Regulation and Supervision Department, Integrated Surveillance Department, Corporate Finance Department, Corporate Finance Investigation Department, Legal Affairs Department, Recovery & Refund Department and Special Enforcement Cell.

Anup Gupta is a seasoned financial services professional and currently serves as the Chairman of the Bombay Stock Exchange Brokers’ Forum (BBF) and Director at Sykes & Ray Equities (India) Ltd. With a distinguished career spanning over four decades, he brings deep expertise in Business Relationship Management, Corporate Finance, Derivatives, and Due Diligence.

Anup has a proven track record of leading strategic initiatives, driving business growth, and cultivating long-term partnerships in highly dynamic and competitive market environments. His leadership style is marked by agility, foresight, and a commitment to excellence.

He holds a Bachelor of Commerce (B. Com.) degree with a specialization in Accounting and Finance from H.R. College of Commerce and Economics, Mumbai a PGD in Management from Peter Drucker Institute of Management USA and a PGD in Securities Law from Govt. Law College. He is regular meditator who continues to practice Vipassna from past 25 years and loves his daily morning walks.

He has led his team to the Best Fund House of the Year Award at all the mutual funds where he has worked viz. Kotak, ICICI Prudential and Franklin Templeton Mutual Fund.

Nilesh is a Part time member of the Economic Advisory Council to the Prime Minister.

He is a part time member of the Unique Identification Authority of India (UIDAI). He is

Member of the Insurance Advisory Council set up by IRDAI. He is Member of the PFRDA committee for determination of investment pattern of pool corpus under Unified Pension Scheme. He is member of the COBOSAC committee of SEBI. He is a member of the Board of Association of Mutual Funds in India.

Navneet Munot is the MD & CEO of HDFC Asset Management Company Limited (HDFC AMC). HDFC AMC manages over ₹ 7.5 lakh crore across asset classes for over 1.3 crore individual and institutional investors.

A veteran of financial markets, Navneet has 3 decades of rich experience in the industry.

Navneet is the Chairman of the Association of Mutual Funds in India (AMFI). He has been part of many committees and working groups set up by SEBI and IFSCA. He is on the Board of National Institute of Securities Markets (NISM), an Institute set up by SEBI for capacity building activities and enhancing the quality standards in securities markets. He is also a board member of Bombay Chambers of Commerce and Industry (BCCI).

Uttam Bagri is a third-generation promoter and Director of the 62-year-old BCB Group, a well-established financial services organization primarily engaged in stock broking and merchant banking activities. He holds a Bachelor of Commerce degree and a Post Graduate Diploma in Management (PGDM) from the prestigious Indian Institute of Management (IIM) Ahmedabad.

With over two decades of experience in the Indian financial markets, he has played a significant role in various industry initiatives and policy discussions.

He has served as a Trading Member representative on the Board of BSE Limited during the periods 2003–2005 and 2010–2012.

Uttam has also been an active member of several key committees constituted by Market Infrastructure Institutions and the Securities and Exchange Board of India (SEBI), contributing to the development and governance of India’s capital markets.

Sunil Singhania, CFA, is the Founder of Abakkus Asset Management, LLP, an India-focused Asset Management Company he established in 2018. In just under Five years, Abakkus is already managing assets of almost Rs 21,000 crs. Abakkus Emerging Markets and Abakkus Growth Fund, have been rated the number 1 and number 2 AIFs over a 3-year time frame in terms of performance. Prior to this, in his role as Global Head – Equities at Reliance Capital Ltd., he oversaw equity assets and provided strategic inputs across Reliance Capital. And as CIO – Equities, Singhania led Reliance Mutual Fund equity schemes to be rated amongst the best. Reliance Growth Fund grew over 100 times in less than 22 years under Singhania’s leadership. He managed assets of almost Rs 80,000 crs invested in Indian equities. He was rated the Best Fund Manager by Outlook Business in 2016 and 2017 over a 10-year time frame.

Sunil was also the first individual from India to have been elected as a member of the CFA Institute Board of Governors and served as a Governor for six years, 2013-19. He was also the Chair of the Investment Committee and a member of the Nominating Committee. He also sat on CFA Institute’s Standards of Practice Council for six years and was the Founder of the Indian Association of Investment Professionals (now CFA Society India) and served as its President for eight years. Currently, he is the only Indian to be appointed on the IFRS Capital Market Advisory Committee (2020-23).

Singhania graduated in commerce from the Bombay University and completed his Chartered Accountancy from the ICAI, Delhi with an all-India rank. He has also earned the right to use the Chartered Financial Analyst designation, conferred by CFA Institute. Having travelled extensively across the world, Singhania has attended many global investment conferences and seminars. He is also active in social and society work, having served as the President of Goregaon Sports Club, Mumbai. Sunil is widely covered in media including having featured in the famous show, “Wizards of Dalal Street” on CNBC and has an ongoing show, “Markets & More” with Sunil Singhania on ET Now.

Pranav Harridan currently leads Axis Securities as MD & CEO. Over the past two years, he has spearheaded a strong turnaround — doubling revenue, scaling profitability, revamping the digital stack, and driving one of the fastest-growing PMS Businesses in the industry. His focus on tech-led innovation, risk discipline, and customer engagement has helped the business earn multiple awards and significantly strengthen its market position.

Before this role, Pranav led the Institutional Equities Business at Axis Capital, tripling revenues and establishing a top-3 derivatives franchise from scratch. His earlier experience spans senior trading and leadership roles at Citigroup and Credit Suisse, where he helped build highly ranked execution platforms across India and Asia.

Pranav began his career as a fixed income trader and portfolio manager. He holds an MBA from ISB Hyderabad and a finance degree from Christ University. Outside of work, he’s passionate about education and social impact, serving on boards of learning initiatives and teaching at BITS School of Management.

He has over two decades of experience in finance and asset management. Prior to joining DSP, Parekh was responsible for growing businesses at IDFC Mutual Fund, Birla Sun Life Asset Management Company Ltd., and ICICI Prudential Asset Management Company Ltd.

He is passionate about behavioural finance and believes that investor behaviour is one of the most crucial aspects to a good investment experience. Kalpen has undertaken various initiatives in the organisations that he has worked with to highlight the importance and learnings of behavioural finance across the value chain.

Kalpen holds a master’s degree in management studies in finance from the Narsee Monjee Institute of Management Studies and a bachelor’s degree in chemical engineering from Bharati Vidyapeeth, Pune.

Dhiraj Relli leads HDFC Securities—one of India’s most trusted financial services brands—driving its evolution into a diversified financial services powerhouse. He is a transformative leader steering the organization toward a future defined by innovation, inclusivity, and intelligent technology.

With over three decades of experience, Dhiraj has cultivated a profound understanding of capital markets, investments, and the banking and financial landscape, resulting in substantial growth for HDFC Securities. Under his guidance, the firm has become a comprehensive financial solutions provider, evolving from the traditional broking model of RM-serviced clients through physical branches to a completely digital offering, catering to seasoned investors as well as new-age customers such as millennials. Before joining HDFC Securities, he served as Senior Executive Vice President and Head of Branch Banking at HDFC Bank, where he oversaw a network of over 800 branches, helping to transform retail operations and enhance customer focus within India’s banking sector. His prior roles also include serving as the Country Head of Branch Banking at Centurion Bank of Punjab and holding key leadership positions at ICICI Bank. His extensive experience has positioned him as a key player in India’s financial sector, and he is an active member of multiple advisory committees across leading stock exchanges.

A B.Com. (Honours) graduate from Delhi University, Dhiraj is a qualified Chartered Accountant from The Institute of Chartered Accountants of India. He has further enriched his expertise through an Advanced Management Program at the Indian Institute of Management, Bangalore, as well as the AI Applications for Growth program at Northwestern University’s Kellogg School of Management. These educational experiences empower him to effectively harness technology and data-driven insights to foster business development.

With a relentless focus on customer experience, digital innovation, and financial inclusion, he continues to shape the future of investing in India, ensuring HDFC Securities remains a market leader in the country’s rapidly expanding financial ecosystem.

Awards and Accolades:
• Awarded Business Leader of the Year’s “CEO of the Year” (2024-25)
• Recognized among Republic TV & Marksmen Daily’s “Influential Leaders of India” (2024-25)
• Recognized among Business World’s “Top 10 Disruptive CEOs” (2023)
• Awarded Economic Times’ “Fintech Innovators of the Year” (2022)

Swarup is the Vice Chairman & CEO of Mirae Asset Investment Managers (India) Pvt. Ltd., with over 30 years of expertise in financial services, specializing in Asset Management Sales. Since joining in July 2011, he has led Mirae Asset’s India operations with visionary leadership, navigating challenging market conditions with strategic insight.

He is a graduate of the Stanford Executive Program and an alumnus of Stanford University’s Graduate School of Business. He also holds a PGDBM and B.Com (Hons.) degree.

He is actively engaged in key industry bodies, including:
• SEBI’s Mutual Fund Advisory Committee (MFAC)
• Board of Directors, AMFI
• Index Advisory Committee (Equity), NSE Indices Limited
• Ministry of Finance’s Committee for Unified Pension Scheme (UPS) investment patterns, chaired by Shri Supratim Bandyopadhyay, Former Chairperson, PFRDA

Beyond his corporate roles, he is an avid music enthusiast, championing the preservation of vinyl records. He draws parallels between his investment philosophy and his passion for music, emphasizing patience and long-term vision—core principles that have driven Mirae Asset’s success in India.

Sundararaman Ramamurthy joined BSE in Jan 2023 as Managing Director and Chief Executive Officer (MD & CEO). He has since been instrumental in leading the strategy, product advancement, regulatory relationship, and business development activities at the exchange.

Prior to joining BSE, he was the MD & Chief Operating Officer in the Indian arm of Bank of America (BANA), where his responsibilities included global governance and control of the banking entity and the securities segment.

He has an extensive, variegated stint handling all facets of running exchange business in India, with 20 years at NSE, where he was responsible for its significant transformation including hands-on involvement with derivatives, index & data business, and running of its clearing corporation.

He began his career with leading banks – IDBI, State Bank of India, and Indian Overseas Bank.

Due to his role in the turnaround of BSE, he has been conferred with the ‘Outstanding CEO of The Year in Capital Market – 2023’ Award and “Asia Business Leader of the Year – 2023”. Under his leadership, BSE also won the prestigious “Champions of Capital Market Innovation and Efficiency Asia 2024”, by the Capital Finance International UK.

He is a Cost Accountant and member of Indian Institute of Bankers along with being a Bachelor of Science.

Latika is a widely acknowledged leader in financial markets who brings over 25 years of experience and expertise in establishing and managing – exchanges: clearing houses: depositories, across diverse asset classes. She believes in creating marketplaces which are highly cohesive, healthy and competitive.

Previously, she was the Co-Founder & Chief Operating Officer of the Singapore Diamond Investment Exchange Pte. Ltd. (SDiX), the world’s first commodity exchange for physically settled diamonds. Throughout her career, she has held key leadership positions at globally renowned financial institutions like SDiX, Macquarie Singapore, Singapore Mercantile Exchange (SMX), MCX Stock Exchange (now MSE), and Lehman Brothers. She started her career as Summer Intern at National Stock Exchange of India (NSE) in 1995 and worked there for 12 years across various functions. Her contributions in the financial ecosystem span across altering the NIFTY Options contract to bring in suitability and liquidity, remodelling the surveillance & investigation functions, while continuing to shape the future of Capital Markets with her visionary leadership and deep industry expertise.

Latika has also contributed to the industry through prestigious Board and Committee memberships, including the CMFAS Exams Board under the Institute of Banking & Finance (IBF), Singapore. She has been widely recognized as a – ‘Thought Leader’ and felicitated by her alma maters ITM and Narsee Monjee College with ‘Distinguished Alumnus Award’ and ‘Top 50 Entrepreneurs’ respectively.

• Over 20 years of diverse experience in Financial Services
• Former Chief Operating Officer of National Payments Corporation of India (NPCI)
• Held leadership positions in Citi Group, HSBC & Kotak Mahindra Bank

Praveena Rai is the MD & CEO of Multi Commodity Exchange of India Ltd. (MCX), India’s largest commodity derivatives exchange. Her illustrious career spans over 20 years in financial services.

Prior to joining MCX, she was the Chief Operating Officer with National Payments Corporation of India (NPCI), wherein she has successfully executed the growth strategy for digital payments. She has also held leadership positions in Citi Group, HSBC and Kotak Mahindra Bank and believes that technology is a key engine driving transformative change, critical in accelerating the transition to a digital services led economy.

She is an engineer and a management postgraduate from College of Engineering, Guindy and Indian Institute of Management, Ahmedabad. She has been awarded by Forbes in the Self-Made Women List 2024.

Nehal Vora is the Managing Director and CEO of Central Depository Services (India) Limited (CDSL), India’s largest depository by number of demat holders and the only listed depository in Asia-Pacific region.

With close to three decades of experience in significant roles at BSE, DSP Merrill Lynch, and SEBI, Nehal has driven transformative growth at CDSL since September 2019, overseeing it become the custodian for over 15.65 crore demat accounts (as on May 31, 2025). His leadership also emphasizes financial literacy and investor awareness and his expertise in regulatory matters is evident from his significant contributions to SEBI advisory committees.

Previously, as the Chief Regulatory Officer at the Bombay Stock Exchange, he led initiatives in compliance and investigations. His career began at SEBI in 1996, where he pioneered derivatives innovations and key system implementations like the T+2 rolling settlement. His efforts at DSP Merrill Lynch earned him the OGC Living the Mission Award in 2008 and other efforts earned him recognitions such as the Distinguished Alumnus at H. R. College of Commerce and Economics, NetApp Innovation Award 2019, Compliance Champion award in 2018, amongst many others. He continues to contribute meaningfully to India’s capital markets through his active participation in various SEBI advisory committees like the FPI Advisory Committee (FAC), Market Data Advisory Committee (MDAC), Secondary Market Advisory Committee (SMAC) among others as well as his role on the advisory board of National Institute of Securities Markets (NISM).

Nehal’s achievements have earned him numerous accolades, including the recent ‘Global Custodian Legend Award, Asia’, in May 2024, ‘CEO of the Year Asia’ by Asia Asset Management. Additionally, under his leadership, CDSL has received several prestigious awards such as the ‘Innovation in Market Infrastructure’ award at the Leaders in Custody Asia Awards 2025 by Global Custodian, ‘Central Securities Depository of the Year’ at the Asset Servicing Times – Industry Excellence Award 2023, ‘Best Market Infrastructure Institution of the Year, 2024’, and the ‘Highly Recommended Market Infrastructure Institution of the Year’ in 2023 at the Regulation Asia Awards.

Vijay Chandok is the Managing Director and Chief Executive Officer of National Securities Depository Limited (NSDL) from November, 2024. Prior to this he was with ICICI Group for over three decades. At ICICI Group, he was the MD & CEO of ICICI Securities Ltd. for a period of 5 years from 2019. Prior to that, he served as the Executive Director on the Board of ICICI Bank. During his tenure at ICICI Bank he has also worked on the Boards of ICICI Bank UK Plc Ltd, ICICI Bank Canada Ltd., ICICI Bank (Eurasia) Limited, and was the Chairman of ICICI Investment Management Company Limited.

During his years at ICICI Bank, he was responsible for the International Banking, Small and Medium Enterprises (SME) businesses, Global Markets and Commercial Banking Businesses. He also served the bank in the retail banking group, rural and agri group and the corporate banking group over the years.
At present, he is a Co-Chair of the Capital Market Committee of FICCI. In the past he was on the Advisory Committees of BSE, NSE and NSDL and also part of the Committee of SEBI which worked on the harmonisation of the ICDR and LODR regulation and promoting ease of doing business.

He holds a Master’s degree of Mumbai University in Management Studies (MMS) from Narsee Monjee Institute of Management Studies, Mumbai. He also holds a Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology (Banaras Hindu University), Varanasi (formerly IT-BHU). In 2017, he was conferred with a Distinguished Alumnus Award from NMIMS University

Ms. Vaisshali Babu has assumed office as the Managing Director & CEO with effect from January 1, 2024.

Previously, Vaisshali was the Chief Operating Officer and Chief Risk Officer of the Company.
Vaisshali is a capital market veteran with overall capital market experience of over 30 years spread across BNP Paribas, BofA (ML), State Street, SHCIL, United India Insurance Co Ltd., and Mumbai Port Trust.

Her area of expertise is in clearing house operations, custodian business, products and relationship management, operations management, project management including risk, compliance and audit. Vaisshali is very active in various industry groups and has worked closely with Indian regulators on topics related to the development of Indian capital market. She has the credentials of articulating key regulatory changes e.g. foreign investments in India, improving settlement efficiencies, debt market investments etc.

Vaisshali holds a master’s degree in commerce from Mumbai University with a business administration qualification from Symbiosis. She has credentials of executive programmes from IIM Bangalore, IIM Rohtak and IIM Calcutta and is member of Institute of Directors. She was recognised as “India’s top 100 women in Finance” by AIWMI in 2019 and awarded “Best in Custody” at the Women in Finance Asia Awards in 2022.

Complete believer in changing society via children’s education – actively associated with few NGOs.

“Be Simple; Be Different” is her life mantra which she practices and promotes.

Anurag Bansal is a rank holder and fellow member of the Institute of Chartered Accountants of India (ICAI) and a member of Institute of Cost and Works Accountants of India (ICWAI) and possesses extensive experience of over 25 years in Capital Markets.

He is whole time director of SMC Global Securities Limited which along with its group companies offers a diverse range of financial services including institutional and retail brokerage of equity, derivatives, commodities, currency, online trading, depository services, distribution of IPOs, mutual funds, fixed deposits & bonds, insurance broking (life and general), clearing services, margin financing, investment banking, portfolio management, wealth advisory, real estate advisory and research.

Alok Churiwala is a seasoned financial services professional with over three decades of experience in the Indian capital markets. As the Managing Director of Churiwala Securities Private Limited, he has led the firm with vision and integrity, driving strategic growth and fostering strong client relationships across Equity Research, Portfolio Management, Corporate Finance, Investment Banking, and Business Development.

A prominent figure in the financial sector, Alok has made significant contributions to industry advocacy and policy development. He served as the Vice Chairman of the Bombay Stock Exchange Brokers’ Forum (BBF), where he played a pivotal role in representing broker interests and shaping regulatory discourse.

Alok was also a Board Member of the Bombay Stock Exchange for five years. During his tenure, he served on several key committees, including the Index Committee and the Business Development Committee. He is a sought-after industry spokesperson and has featured widely across national television and print media. Additionally, he has been a popular visiting faculty at the BSE Training Institute, sharing his insights and experience with aspiring market professionals.
An alumnus of the Indian School of Business, Alok completed the Venture Capital and Private Equity (VCDP) program, strengthening his expertise in entrepreneurial finance and the evolving investment landscape.

He currently serves as an Independent Director on the Board of Khadim India Ltd., continuing his commitment to sound governance and corporate leadership.