SEBI Clears Key Executive Director Appointments At BSE, NSDL & CDSL

The Securities and Exchange Board of India (SEBI) has approved Executive Director appointments at Bombay Stock Exchange (BSE) Limited, National Securities Depository Limited (NSDL), and Central Depository Services Limited (CDSL) as part of its governance framework for market infrastructure institutions.

BSE said SEBI, through letters dated May 25, 2026, approved Saurabh Shukla as Executive Director for critical operations and Gopalan S. Raghavan for regulatory, compliance, risk management, and investor grievances. NSDL said it has appointed Subhash Kelkar and Ankit Sharma as Executive Directors. Kelkar will oversee critical operations, while Sharma will handle regulatory, compliance, and risk management functions. Both appointments are for five years, subject to shareholder approval.

CDSL said SEBI approved Amit Mahajan as Executive Director for critical operations and Nayana Ovalekar for regulatory and compliance functions, effective from their joining dates and subject to approval.

SEBI had earlier proposed strengthening governance at exchanges, depositories, and clearing corporations by requiring structured executive roles for operations and regulatory functions.