Fri. Mar 29th, 2024
Ravi Narain

Ravi Narain has resigned as National Stock Exchange(NSE) vice chairman. He was one of the founding members of the NSE board. Narain has taken this decision so that, Securities and Exchange Board of India (SEBI) can take appropriate steps in the co-location case fairly.

SEBI has concluded that NSE has given access to some stock brokers to their servers. This access makes possible for a stock broker to log into multiple servers through the internet multiple portals.

NSE officials including Ravi had sent with the notices on the co-location(CoLo) misuse allegations. Ravi resigned so that, there would be no obstacles in the investigation.

Finance Ministry is keeping a close watch on this case and wants this matter to resolve as soon as possible, since NSE is the country’s largest stock exchange in terms of turnover.

Chitra Ramkrishna will be overtaking the position of Mr. Ravi Narain.

By Bharat