Shri K. Rajaraman belongs to the 1989 batch of Indian Administrative Service (Tamil Nadu cadre) and has assumed the responsibility of the Chairperson of International Financial Services Centres Authority (IFSCA) after serving for nearly 35 years in various leadership roles in Government of India and Government of Tamil Nadu. Prior to joining the IFSCA, he served as the Secretary to Government of India in the Department of Telecommunications. He is a B.Tech Graduate in Electronics & Communications, a first-class MBA and Master of Economics.
Starting his career as a Design Engineer in BHEL, Trichy, during his rich and varied experience as an IAS Officer, he had held various administrative positions in the areas of Investment Promotion, Foreign Direct Investment, Public Sector Undertakings, Industrial Infrastructure, VAT Administration, etc. He was MD of Chennai Metro Railways for nearly 4 years during its early construction phase, Commissioner for Commercial Taxes in Government of Tamil Nadu, and Joint Secretary Expenditure in Government of India. He also served as Additional Secretary, Investment, IER and Administration in the Department of Economic Affairs, Ministry of Finance.
Dr. Praveen Trivedi has about three decade’s rich professional experience wherein he has acted in various capacities including as practicing advocate, teacher, legal advisor, regulator, supervisor and administrator. He is a postgraduate in Law and has also acquired Post Graduate Diploma in Management of Financial Resources.
He joined Securities and Exchange Board of India (SEBI), the Indian securities market regulator in 1996. During his tenure of more than 22 years at SEBI, he handled host of the activities viz. regulation, supervision, investigation, inspection, litigations besides participating / heading various committees. He also acted as Regional Manager of SEBI’s Northern Regional Office at New Delhi besides being appointed as Adjudication and Enquiry Officer in many cases. He rose to become Chief General Manager and was Head of Enforcement Department before moving out of SEBI in June 2018.
While in SEBI, he was also posted to Ministry of Finance (MoF), Government of India for about 3 years and helped it on legal and regulatory issues. In MoF, he also handled Commodities Derivatives and other departments including matters related to Financial Sector Legislative Reforms Commission (FSLRC). He played a prominent role in drafting of Insolvency and Bankruptcy Code-2016, the first of its kind consolidated legislation to deal with Insolvency and bankruptcy in India. He was also awarded a Ph. D. on Insolvency and Bankruptcy Laws, in 2023.
Before joining IFSCA in January 2021, he was the Executive Director at Pension Fund Regulatory and Development Authority (PFRDA), the pension fund regulator in India, since June 2018.
Dr. Dipesh Shah has over 23 years of professional experience in International Business, Project Development, Corporate Affairs, Corporate Law & Policy matters. His most prominent achievement includes setting up and operationalizing India’s 1st Smart City and International Financial Services Centre (IFSC).
He has been associated with the development of GIFT City since its inception – 2008.In his last 15 years, tenure at GIFT City, City made substantial progress in getting recognition as India’s model Smart City, starting India’s first Multi Services SEZ and only approved International Financial Services Centre.
He is the Executive Director and heads the Development and International Relations at IFSCA. He is responsible for overall development of IFSC in India. Dr. Shah holds Doctorate (Ph.D.) In International Financial Services Centre (IFSC) – India’s first research on subject. PGDM in International Business & Finance (MBA) , Nirma University, India, Chartered Secretary, Institute of Company Secretaries of India (ICSI), India & Institute of Chartered Secretaries & Administrators, UK.
Mr. Pradeep Ramakrishnan joined IFSCA as Executive Director in February 2024. Mr. Ramakrishnan heads Department of Capital Markets and Department of Metals and Commodities.
Prior to joining IFSCA, Mr. Ramakrishnan was with Securities and Exchange Board of India (SEBI) for more than two decades (Feb 2002 to January 2024) handling various key portfolios including -
a) Division of Compliance and Monitoring dealing with corporate governance, Business Responsibility and Sustainability Reporting, Listing related issues, forensic account cell etc. (2015 - 2020)
b) Department of Debt and Hybrid Securities dealing with Corporate bonds, Municipal bonds, Sustainable finance etc. (2020 - Jan 2024) Prior to joining SEBI Mr. Ramakrishnan was the Company Secretary of Kothari Petrochemicals Limited for two years. Mr. Ramakrishnan was also associated with Madras Fertilizers Limited during 1997-98. Mr. Ramakrishnan is a commerce graduate and Company Secretary.
Shri Ashishkumar Chauhan is the MD & CEO of the National Stock Exchange of India (NSE). A technocrat from IIT Bombay and IIM Calcutta, he was part of the founding team at NSE. He is credited with setting up first screen-based trading in India, mobile trading, mutual fund distribution through exchanges, markets for SME shares, satellite telecom, the NIFTY index, derivatives trading and many other modern developments in the Indian stock markets. He is considered as the father of modern financial derivatives in India.
Ashish has been fulfilling NSE’s mandate of being a frontline regulator that extends well beyond any comparable exchange in the world. NSE, today, is the largest exchange in the world in terms of the number of orders and trades per day. He has been instrumental in the success of NSE IFSC and in bringing SGX NIFTY to GIFT IFSC which is a pivotal moment in Indian Financial Markets in line with Prime Minister Narendra Modiji’s vision for Amrit Kaal. He has also played a significant role in the establishment of the Social Stock Exchange.
Prior to joining NSE back in 2022, he was the MD and CEO of the Bombay Stock Exchange for 10 years. He is a member of the University Grants Commission, the Chancellor of the University of Allahabad and is on the board of IIM Calcutta and other institutions of repute. He is a faculty at Nottingham University, UK and Toronto Metropolitan University, Canada. He has also worked in the Reliance group and as the CEO of Mumbai Indians IPL cricket team in its formative years.
A Book titled ‘Sthithpragya: The Process of Maintaining an Equilibrium’ addresses his life’s journey. He has been awarded many awards in India and abroad including the Most Influential CEO Award by CEO Monthly in 2024, lifetime achievement award from Global Custodian at Singapore in 2023, Lifetime Achievement award in the field of Information Technology by CTO Magazine, Istanbul, Top 50 CIOs in the world by Information Week, US, Digital Icon of the Year, Asian Banker of the Year and many more.
Shri 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 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 stints, 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 ‘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.
Chairman AMFI and MD & CEO of HDFC Asset Management Co. Ltd.
Mr. Navneet Munot
Navneet Munot is the MD & CEO of HDFC Asset Management Company Limited (HDFC AMC). He joined the firm in February 2021. HDFC AMC manages over Rs.7.5 lakh crore across Equity and Fixed Income Mutual Funds for over 1 crore investors across the country. Navneet is also the Chairman of the Association of Mutual Funds in India (AMFI).
A veteran of financial markets, Navneet has 3 decades of rich experience in the industry. Prior to joining HDFC AMC, he was the Executive director and Chief Investment officer of SBI Funds management Private Limited and was responsible for overseeing AUM over USD 150 billion across mutual funds and segregated accounts. Navneet was also a Director on the board of SBI Pension Funds (P) Limited.
In prior assignments, he was the Executive Director & Head – multi-strategy boutique with Morgan Stanley Investment Management and Chief Investment Officer – Fixed Income and Hybrid Funds at Birla Sun Life Mutual Fund.
Navneet has a master’s degree in Accountancy and Business Statistics and a qualified Chartered Accountant. He is a Charter Holder of the CFA Institute and CAIA Institute. He has also done Financial Risk Management (FRM).Charter Holder of the CFA Institute and CAIA Institute. He has also done Financial Risk Management (FRM). He is also the Chairman of the Association of Mutual Funds in India (AMFI).
One of the founding partners of AZB & Partners, Bahram N. Vakil is amongst India’s foremost restructuring, infrastructure and project finance attorneys and has been acknowledged as a leading restructuring and project finance lawyer by most international publications. The World’s Leading Lawyers for Business calls Vakil a gregarious and hard–headed lawyer who is valued by clients for his “smart, reliable and practical advice.” Chambers & Partners Global singles out his finesse at negotiations, stating that “He adds value in negotiations, ensuring both parties see the other’s point of view.” He has an LL.M. from Columbia University and is a member of the New York State Bar.
Experience
• Co-Founder & Senior Partner, AZB & Partners (2004 – Present) Key Practice Areas
Banking & Finance
Corporate / Mergers & Acquisitions
Restructuring & Insolvency
Energy
Infrastructure
Microfinance
Recent Work Highlights
Carval Investors on the acquisition of Uttam Galva Value Limited and Uttam Galva Metallics Ltd under the IBC
RBI appointed administrator of DHFL and his transaction advisor, Ernst & Young, through the first of its kind restructuring and bidding process of a financial services company in IBC being put up for sale in parts
Resolution Professional of Jet Airways on the insolvency proceedings of Jet Airways under the IBC Directorships, Memberships & Affiliations
Member of the Insolvency Law Academy's Thought Committee on Bank Insolvency (2023)
Chairperson of the ASSOCHAM (The Associated Chambers of Commerce and Industry of India) National
Council on Insolvency & Bankruptcy Code and Valuation (2023)
Member of Standing Committee on Primary Markets (2024)
Member of Expert Committee for drafting legal framework for allowing Variable Capital Company
(VCC) structure in the IFSC(s) (2024)
Member of IFSCA constitutes Committee on Framework for transfer of stressed loans from domestic
lenders to permitted financial institutions in IFSC (2024)
Member of expert committee to recommend reforms in the Arbitration Law
Independent Expert for the review function “Compliance” under Performance Review Committee of IFSCA
Member of Working Group on Direct Listing of Equity Shares of listed Indian companies on IFSC Exchanges
Member of the Expert Committee for the proposed International Arbitration Centre (IAC) at GIFT IFSC
Member of the expert committee to propose creditor-led resolution approach under the Code,
constituted by Insolvency & Bankruptcy Board of India (2023)
Steering Committee Member, ASSOCHAM 5th National Summit Asset Reconstruction Companies
(2023)
Co–Chair, International Development & Practice Committee, International Insolvency Institute (2022)
FICCI National Executive Committee (2022)
FICCI Capital Markets Committee : Sub Group on Ease of Doing Business (March – July 2022)
Committee of Experts constituted by the International Finance Services Centre Authority (IFSC) to
recommend measures / create a framework, for transfer of stressed loans from domestic lenders to
permitted financial institutions in IFSC (January – February 2022)
Taskforce on Scaling Voluntary Carbon Markets, a private sector initiative working to scale an effective
and efficient voluntary carbon credit market to help meet the goals of the Paris Agreement (2021)
Insolvency Law Amendment Committee, constituted by the Ministry of Corporate Affairs, to
recommend amendments to the IBC (2019 – Present)
Task Force on the Development of Secondary Market for Corporate Loans, set up by the Reserve Bank
of India (2019 – Present)
International Insolvency Institute, a non–profit, limited membership organization, set up to promote
international cooperation and coordination in the insolvency field (2019 – Present)
Technical Co–Chair, Main Organising Committee of INSOL International (2019)
Dr. T. K. Viswanathan Committee on Bankruptcy Law Reforms, constituted by the Ministry of Finance,
Government of India, to draft the Insolvency and Bankruptcy Code, 2016 (2015)
Financial Sector Legislative Reforms Committee, SEBI Advisory Group (2011)
U.K. Sinha Committee – Working Group on Foreign Investment in India (2010)
New York State Bar Association (1985)
Bar Council of Maharashtra & Goa (1982)
Professional Qualifications
Solicitor, India (1986)
LL.M., Columbia University, New York, USA (1983)
Bachelor of Law, Bombay University (1982)
Recognized as an ‘Eminent Practitioner’ (2018 – 2024) and a ‘Band 1’ lawyer (2011 – 2017) for Banking & Finance by Chambers Global
Recognized as an ‘Eminent Practitioner’ (2018 – 2025) and a ‘Band 1’ lawyer (2012 – 2017) for Banking & Finance; an ‘Eminent Practitioner’ (2020 – 2025) for Restructuring/Insolvency; and ‘Highly Recommended’ for Corporate/M&A (2012 – 2015) by Chambers Asia–Pacific
Featured in the ‘Top 100 Indian Lawyers’ list, published by India Business Law Journal (2016 – 2024) Recommended for Infrastructure, Banking, Finance & Project Finance by RSG India Report, (2017) Inducted into the ‘Hall of Fame’ for Banking & Finance and Projects/Infra & Energy by Legal 500 Asia Pacific (2021 – 2024)
Named as a ‘Leading Individual’ for Banking & Finance (2012 – 2020), Projects & Energy (2012 – 2020) and Restructuring & Insolvency (2021 – 2024) and ‘Recommended’ for Restructuring and Insolvency (2020) by Legal 500 Asia Pacific
Recognized as ‘Highly Regarded’ for Banking, Project Finance and Restructuring & Insolvency by IFLR1000 (2023 – 2024)
Recognized as ‘Highly Regarded’ for Banking, Project Finance and Energy & Infrastructure by IFLR1000 (2018 & 2020 – 2022)
Recognized as one of ‘Asia’s Best Lawyers’ by IFLR1000 (2020 – 2021)
Recognized as an ‘Elite Practitioner’ for Banking & Finance (2020 – 2024) and Infrastructure (2020) by Asialaw Profiles
Nominated as ‘Restructuring Expert of the Year’ in India by Leaders in Law - Global Awards (2021)
Named a ‘Lawyer of the Year’ for Insolvency & Restructuring by Legal Era (2024)
Named a ‘Leading Lawyer Legend’ for Banking & Finance and ‘Leading Lawyer Champion’ for Projects & Energy in the Legal Era Leading Lawyer Rankings (2023)
Named a ‘Leading Lawyer Champion’ for Banking & Finance, Projects & Energy and Restructuring & Insolvency in the Legal Era Leading Lawyer Rankings (2022)
Recognized as ‘Leading Insolvency Law Attorney of the Year’ by Acquisition International (2022)
Named Restructuring Law Lawyer of the Year – India by Global 100 – 2021, a list 100 of the World’s leading firms and individuals
Named as a ‘Market Leading Lawyer’ for Banking & Finance and Corporate/M&A by Asialaw Leading Lawyers (2016 – 2019)
Recommended as a ‘Thought Leader–India’ for Banking & Finance, Banking Regulatory and Restructuring & Insolvency (2023), ‘Thought Leader – Restructuring & Insolvency (GRR)’ (2022), ‘Thought Leader – GBRR’ (2021), ‘Global Leader’ for Banking & Finance, Banking & Regulatory and Restructuring & Insolvency (2020 – 2021) and for Corporate Governance (2021) by International Who’s Who Legal
Awarded ‘Banking & Finance Lawyer of the Year – India’ at the Corporate Live Wire Global Awards (2019)
Recognized as a ‘Top Legal Practitioner’ in India for Project Finance by the Banking, Finance and Transactional Law Expert Guide (2018)
Erik Norland is Chief Economist and Executive Director of CME Group. He is responsible for generating economic analysis on global financial markets by identifying emerging trends, evaluating economic factors and forecasting their potential impact on CME Group's various asset classes, ranging from interest rate products to energy and agriculture. He is also one of CME Group’s spokespeople on global economic, financial and geopolitical developments.
Erik has been working in the financial services industry since 1996. Prior to joining CME Group in 2015, he worked for investment banks and hedge funds both in the United States and France, with coverage including the field of quantitative research. He was in sales roles at BEAM Bayesian Efficient Asset Management LLC, and was Head of Research at EQA Partners, both of which are global macro hedge funds. He also worked with IXIS Corporate & Investment Bank in Paris (now called Natixis), covering central banks and supranational institutions for the fixed income sales business, and also worked as a market economist and strategist. Erik began his career at Bankers Trust, Global Investment Management in New York with the tactical asset allocation group.
Erik holds a bachelor’s degree in Economics and Political Science from St. Mary’s College of Maryland and an M.A. in Statistics with a concentration in finance from Columbia University. He is also a CFA Charterholder.
Nehal Vora is the Managing Director and CEO of Central Depository Services (India) Limited (CDSL), India’s largest depository and the only listed depository in Asia-Pacific region, with a market cap of USD 4.2 billion. (as of January 2025). With over 27 years 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 145 million demat accounts. His leadership also emphasizes financial literacy and investor awareness. His expertise in regulatory matters is evident from his significant contributions to SEBI advisory committees.
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 ‘Central Securities Depository of the Year’ at the Asset Servicing Times – Industry Excellence Award 2023, and the Highly Recommended Market Infrastructure Institution of the Year at the Regulation Asia Awards 2023.
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.
Mr. 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.
Under Mr. Chandok’s leadership, ICICI Bank and ICICI Securities has won numerous accolades including:
Dun & Bradstreet’s Best Bank in Private sector for International Business Development consecutively for six years (2011 to 2016).
‘The Best Borrower from India’ for five consecutive years (2012 to 2016)
The Best Bank for SMEs at the Asiamoney India Banking Awards 2017 - for its automation initiative besides winning the best bank in SME financing by D&B, Asian Banker & Asian Asset Awards over the years.
Retail Broker of the Year Award 2019 by Outlook Money.
Best Domestic Private Bank – India, by Asian Private Banker, 2021
Best Customer Experience of the Year in ETBFSI Excellence awards for ICICI direct Global, the overseas investment platform of ICICI Securities Limited.
Asia’s Promising Business leader 2021-22 by The Economic Times
Business Icon of India 2022 and 2023 by Marksmen Media
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.
Mr. Chandok 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, Mr. Chandok was conferred with a Distinguished Alumnus Award from NMIMS University.
Peter Stein is the Chief Executive Officer of ASIFMA. Reporting to the Board of Directors, he leads the association’s vision and strategy as it advocates on behalf of its over 160 member firms for the efficient growth and development of Asia’s capital markets.
Prior to his role at ASIFMA, Peter took over as Managing Director of the Private Wealth Management Association (PWMA) in December 2016, and was also named CEO in July 2021. Established in 2013, PWMA is an industry association whose mission is to foster the growth and development of the private wealth management industry in Hong Kong.
Previously, Peter worked for UBS AG, where he served as Head of Regulatory Advisory & Relations, Asia Pacific and before that as Head of Group Governmental Affairs for Asia Pacific. Until 2011, Peter was a senior editor, reporter and columnist in Hong Kong with The Wall Street Journal, where he worked for more than 20 years. He was the Journal’s Hong Kong Bureau Chief from 2005-2011 and before that was Managing Editor of the Journal’s Asian edition.
Peter graduated with a BA in Comparative Literature from Yale University and speaks Mandarin, Cantonese and German.
Head, South Asia Programme, Climate Bonds Initiative
Ms. Neha Kumar
Neha Kumar is the Head, South Asia, Climate Bonds Initiative and is based in Delhi. She drives policy, strategy and partner programmes on climate risks and sustainable financial ecosystem. Her efforts are targeted at building policy mechanisms, market infrastructure and capacities needed to accelerate financing for green, just and resilient transition in the region. Her current areas of focus include transition and resilence finance, the role of financial policy and regulation, and DFI and MDBs. She serves on the committees of IFSCA and Niti Aayong on climate finance and is member of the technical commitees on taxonomy constituted by the Ministry of Finance and has served on international ESG standard setting bodies. Avidly interested in the political economy of flow of sustainable finance, she has been working on the topics of equity and climate justice. She has over two decades of experience in responsible financing, environmental and political risks. She is trained in science, international environmental negotiations and politics.
Committee, FICCI Committee on Capital Markets Founder & CEO of NovaaOne Capital Pvt. Ltd.
Mr. Sunil Sanghai
Sunil Sanghai is an investment banker with over three decades of experience in M&A and capital markets advisory across sectors.
Prior to founding NovaaOne, Sunil has been in key leadership positions including Vice Chairman – Investment Banking and Head of Global Banking at HSBC, India; Managing Director and Co-Head of Investment Banking at Goldman Sachs, India; and Executive Director at JM Morgan Stanley.
He chairs the National Committee on Capital Markets of FICCI and was also a member of the SEBI Primary Market Advisory Committee (PMAC).
He is closely associated with philanthropic organizations working towards the development of children.
Mr. Arjun Prasad is General Manager at International Financial Services Centres Authority, GIFT City, Gandhinagar. Mr. Prasad is in charge of the Division dealing with Primary Markets at IFSCA. During the last 4 years with IFSCA, he has been involved in policy making in several areas in the capital markets including Listing Regulations and Capital Market Intermediaries Regulations.
Prior to joining IFSCA, Mr. Arjun Prasad has experience of over 12 years in capital markets with Securities and Exchange Board of India (SEBI) and has handled various portfolios including investigations, international affairs, takeovers, buy backs and delisting.
He has done his MBA from IIM Indore and B. Tech from IIT Madras.
Mr. Mihir Upadhyay has over two decades of experience in private equity, venture capital, regulatory organizations, and consulting firms, and currently serves as General Manager at the International Financial Services Centres Authority (IFSCA). Previously, he held the position of Chief Investment Officer at NB Ventures, a UAE-based VC firm. Mr. Upadhyay also brings experience from his work with the Pension Fund Regulatory and Development Authority of India (PFRDA), Brand Capital, and ICRA Management Consulting Services. He holds an MBA from Welingkar Institute of Management Development & Research and a B.Com from the University of Mumbai
Mr. V. Balasubramaniam (Bala) is the MD & CEO of NSE International Exchange (NSE IX) wholly owned subsidiary of NSE. He played instrumental role in operationalizing the liquidity switch from SGX to NSE IX with a daily peak National volume of USD 22.88 Billion Dollars . With a career in the Capital Market Industry spanning over three decades, he had played a key role in the development of Indian Capital Markets. He was a part of the core team involved in setting up the National Stock Exchange of India in 1993. He was instrumental in creating the Capital Market segment for NSE, Nifty Index creation, conceptualizing of NCFM, setup of NSCCL as the first clearing corporation in India, NCFM certification and the Futures and Options segment inter-alia.
Prior to NSE IX, he was Managing Director and Chief Executive Officer of India International Exchange (IFSC) Limited (INDIA INX). Before joining INDIA INX, he was Chief Business Officer of Bombay Stock Exchange (BSE) heading the business development encompassing multi assets segment. Additionally, he was also responsible for the listings and data business of BSE and managing the entire trading operations and membership operations. He also co-founded BSE Technologies Pvt Ltd (acquired by BSE). Mr. Bala has also worked with Reliance Group as Vice President.
Mr. Bala is an independent advisory committee expert in IFSCA’s Exchange Traded Currency Derivatives, REITs and InvITs in IFSC, Transition Finance, Development of NRI Business and Ease of Registration and served in Direct Equity Listing, Sustainable Finance, Investment Funds and on positioning IFSC as a hub for offshore trading in INR.
He has master’s in commerce from the University of Mumbai, Rank holder from the Institute of Cost Accountants of India, Diploma from Institute of Chartered Financial Analysts of India and is a Certified Information Systems Auditor.
MD & CEO, Indian International Exchange (IFSC) Limited
Mr. Vijay Krishnamurthy
Shri. Vijay Krishnamurthy is Managing Director and Chief Executive Officer of India International Exchange (IFSC) Limited (India INX).
Before joining India Inx, he was heading the debt segment at BSE Limited. In earlier stint he has also worked as Additional Director with CRISIL Limited.
He has rich and vast experience of over 20 years in investment research and products across asset classes, with an expertise in Fixed Income markets. He has also worked closely with regulators and institutional clients for the development of capital markets in India. He has been instrumental in leading the development and implementation of Request for Quote (RFQ) platform, security level valuations, debt/debt hybrid indices for the Indian markets. His active participation and contribution in several SEBI committees/sub-committees/working group has helped in shaping up some of the policies for debt markets and indices Close.
Shri. Vijay is academically sound, with qualification in PGDBA- Finance and Marketing and a Commerce Graduate from Mumbai University.
Mr. Neeraj Kulshrestha is the MD and CEO of NSE IFSC Clearing Limited (NSEICC) at GIFT City, Gandhinagar. He has a Bachelor’s degree in Computer Science from Delhi University and an MBA (Finance) from Indore University. He has over 35 years’ experience in financial sector, across Securities Markets and General Insurance.
He started his career in National Insurance Company in 1988. He joined NSE in 1995 and was responsible for setting up Equity and Derivatives Trading and Clearing. He was heading the index and data company of NSE. He joined Morgan Stanley India in 2005 as Executive Director Operations. He joined BSE in 2015 and has handled various roles including Operations, Business and Compliance.
Managing Director & CEO, India International Clearing Corporation (IFSC) Limited
Mr. Arup Mukherjee
Mr. Arup Mukherjee is the Managing Director & CEO of the India International Clearing Corporation (IFSC) Limited. Mr. Arup Mukherjee has over 35 years of work experience of which around 32 years has been in the Securities Industry. He has worked previously with the Indian Clearing Corporation Limited ("ICCL"), National Stock Exchange of India Limited ("NSE"), Indian Seamless Financial Services Limited and the Stock Holding Corporation of India Limited ("SHCIL"). He has wide ranging experience in trading operations, equity markets, derivatives, debt markets, surveillance, risk & regulatory, membership, investor services, arbitration, compliance, index services, training and education etc. Mr. Mukherjee joined NSE in 1994 when the Exchange commenced its operations. At NSE, he had set up the Listing Department and the India Index Services & Products Ltd. (now a subsidiary of NSE, namely NSE Indices Limited) where he served as its first Chief Executive Officer ("CEO"). He was on various internal committees such as the Index Maintenance Committee and the Internal Committee for Minor Actions (ICMA) against trading members. He was also involved in conceptualising and setting up various systems such as listing database system, derivatives surveillance system, index management system etc. and launching of derivatives products such as single stock futures and options, index options and interest rate futures. Mr. Mukherjee joined ICCL (a wholly owned subsidiary of the BSE) in December 2014. At ICCL he handled the regulatory and compliance functions and was the company's Chief Regulatory Officer (CRO). Mr. Mukherjee is a Bachelor of Commerce and Master of Management Studies from the Mumbai University.
Founding Partner, CFO and ESG Officer of 3one4 Capital
Mr. Siddharth Pai
Siddarth Pai is a Founding Partner, Chief Financial Officer, and ESG Officer at 3one4 Capital.
Siddarth works extensively on policy and growth of the Indian startup and alternative investment industry.
He is the youngest member of the SEBI AIPAC, (Alternative Investment Policy Advisory Committee), created to work with the regulator on the ordered growth of the Indian AIF industry.
Siddarth is also the youngest Executive Council member of the IVCA (Indian Venture Capital Association) – the apex body for Indian funds investing in alternative assets and serves as the co-chair of the Regulatory Affairs Council, working on matters related to security markets, alternative investment funds, taxation, foreign exchange, law and startups.
He is the founding member and vice-president of the PEVCFOA, a collective of the CFOS of Venture and Private Equity Funds investing in India and is part of the startup councils of CII and AIMA. He is an expert policy member of ISPIRT, the Indian Software Product Industry Round Table, a Bangalore-based think-tank.
Siddarth completed his B.Com. from St. Joseph’s College of Commerce Bangalore and is a qualified Chartered Accountant.
MD & CEO, India International Bullion Exchange (IFSC) Limited
Mr. Ashok Gautam
Mr. Ashok Kumar Gautam is the first Managing Director & CEO of India International Bullion Exchange IFSC Ltd. (IIBX) at GIFT City. He joined IIBX in his present leadership role in February 2022. He is credited with introducing some of the Global first initiatives at IIBX including every 30 minutes settlement of Bullion Depository Receipts.
Mr. Gautam is a finance professional with over 38 years of experience in various tenets of banking and financial management; such as Treasury, Bullion, Financial Institutions, Transaction Banking, Cash Management Services, Relationship Management, Credit, International Banking, Trade Finance etc.
Mr. Gautam was earlier Executive Director & Head Treasury with IDBI Bank Ltd., with added responsibilities of Cash Management Services, Government Business Group & Financial Institutions. Before that during his 11-and-a-half-year stint at Axis Bank, he was Executive Vice President and Head Financial Institutions Group (FIG) and held leadership positions of Head Global Markets, Treasury and Head Transaction Banking - Corporate & Financial Institutions. During his tenure at Axis Bank he spearheaded the Bullion business for more than 8 years.
During his over 22 years’ experience in State Bank of India, Mr. Gautam was Head of the first Central Treasury of the Bank at Hong Kong covering all branches from Sydney to Male, Treasury at Singapore office and the Regional Dealing Room at Overseas Branch New Delhi, among other leadership roles.
Mr. Gautam has earlier represented Banks at various industry bodies:
· On the Board of Fixed Income, Money Market & Derivatives Association, i.e., FIMMDA as Director.
· On the Board as Additional Vice Chairman and member Managing Committee of Foreign Exchange Dealers Association of India, i.e., FEDAI.
· Secretary, Forex Association of India, i.e., FAI.
· Invitee to the RBI committee on Financial Benchmarks.
· Member of the RBI Working Group on Interest Rate Options.
· Member, India Customer Advisory Board of Thomson Reuters.
· Member, Finance & Banking Committee, Indian Merchants’ Chamber.
Educational & Professional Qualifications:
B.Sc. (Mathematics & Statistics); MBA (Finance);
CAIIB; Diploma in Bank Management; Diploma in Treasury, Investment & Risk Management from Indian Institute of Banking & Finance (IIBF);
Certified Financial Risk Manager (FRM) from Global Association of Risk Professionals, USA (GARP);
Axis Executive Leadership Program conducted by Duke Corporate Education;
Strategic Innovation and Leadership Program by Tuck Executive Education at Dartmouth.
Speaker
Mr. Gautam is frequently invited by Institutes, Trade bodies, Colleges and Associations as a speaker and has addressed various National and International seminars and conferences.
Managing Director & CEO, India International Depository IFSC Limited (IIDI)
Mr. Kaushal Sampat
Mr. Kaushal Sampat is a distinguished finance professional with over 20 years of expertise in the Banking and Financial Services industry. His extensive experience spans International Financial Service Centre (IFSC) Unit operations, corporate banking relationship management, transaction banking, and credit risk analysis.
Prior to joining IIDI, Mr. Sampat held leadership roles at prominent financial institutions, including ING Vysya Bank, ICICI Bank, HDFC Bank, Standard Chartered Bank, and IndusInd Bank, where he successfully managed complex portfolios and delivered strategic growth.
A Bachelor of Commerce graduate with an MBA in Finance, Mr. Sampat combines strong academic credentials with a proven track record of operational excellence and client-focused leadership.
Since his appointment as Managing Director & CEO of IIDI in March 2022, Mr. Sampat has been instrumental in steering the organization’s mission to establish itself as a premier global securities and bullion depository, fostering innovation, compliance, and operational efficiency.
Somasundaram PR is a seasoned leader with over 35 years of experience across renowned organizations like the World Gold Council, Standard Chartered Bank and Unilever Group. He has demonstrated strategic vision and led transformative initiatives, including establishing the India Gold Policy Centre at IIM Ahmedabad, bringing the industry together on exchange trading of bullion, mandatory hallmarking, digital gold platforms and other reforms in the gold industry, M&A in HLL and Standard Chartered bank, and instituting sound governance as CEO in critical business situations in Lakshmi Vilas Bank. A Chartered and Cost Accountant, Somasundaram acts as a trusted advisor with expertise in governance, risk management, and sustainable value creation.
Sachin Jain joined the World Gold Council in March 2024. Based in Mumbai, Sachin is responsible for leading the World Gold Council's activities across the Indian gold market.
Sachin brings with him deep understanding of the Indian consumer and jewellery market, from strategic thinking to practical execution. He has over two decades of rich experience and understanding of the Indian consumer. Sachin has joined from De Beers where he has held several senior roles for the past 13 years. As Managing Director of DeBeers India, he has led the De Beers Forevermark business in India and the Middle East.
Previously, Sachin has held senior positions for De Beers, Lladro, Swatch Group and Benetton.
About the World Gold Council
We are a membership organisation that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through research, analysis, commentary and insights. We drive industry progress, shaping policy and setting the principles for a perpetual and sustainable gold market. For more information visit www.gold.org. You can follow the World Gold Council on X (Twitter) at @goldcouncil and LinkedIn.
Ajit Mauskar, joined the World Gold Council in March 2021. Based in Mumbai, Ajit is responsible for leading the Market Infrastructure initiatives of World Gold Council in the Indian and Middle Eastern gold markets.
Ajit has over 25 years' global experience in banking sector specialising in bullion and commodities. Prior to joining the World Gold Council, Ajit started the commodities department and was the Global Head for Commodities of a leading regional bank in the Middle East having diverse customer base in 12 countries. Earlier to that, he was one of the founder member of Scotiabank’s bullion business in India.
Mr. Manish Goel is a seasoned banking professional, with 25 years of rich experience in the bullion industry. He is leading – the Bullion & Retail Bullion Product business desk at ICICI Bank Ltd for last 5 years. Prior to ICICI Bank Limited, he workedwith ScotiaMocatta for twenty years and his last stint was as the head of the Trading & Physical.
His wide experience covers designing and introduction of various products like GDS, ETF Custody, Gold forwards in the Indian bullion market. His professional input is not only restricted to the Indian market, but he has a vivid understanding of UAE, Hong Kong, London & New York markets and has hands on experience in trading, funding and physicals across different geographies.
He has also been a part of multiple forums for interaction & sharing his insightful views on current business dynamics and new product developments to various regulators.
Member of:-
Founding Member of Indian Bullion Banker Association (IBBA)
Indian Banks’ Association (IBA) working group on bullion business
MD & CEO, Multi Commodity Exchange of India Ltd (MCX)
Ms. Praveena Rai
Ms. 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.
National Secretary, India Bullion & Jewellers Association
Mr. Surendra Mehta
Surendra Mehta is a qualified chartered Accountant from 1988 batch.
He has been appointed as National secretary of 105-year-old association India Bullion and Jewellers Association (IBJA) since 2012. He is also precious metal advisory committee member at IFSCA, Government of India.
He has in-depth knowledge of Gold eco system and has delivered more than 500 lecture on gold policy, Hallmarking, Bullion exchanges etc and gold related regulation.
He is one of key person for giving idea about Gold Monetization Scheme (GMS) and sovereign gold bond (SGB). He is on product advisory committee of all the commodity exchange. He represents Government on behalf of IBJA for all national issue related to Gold. He was key person to get IBJA gold benchmark rates approved with Reserve Bank of India and Ministry of Finance. He regularly features on various media channel to give his candid views on gold. His quotes and write ups in print media are most awaited in jewellery industry. He is said to be master in interpretation of law related to Gold industry. He is also on steering committee of world gold council for setting up of bullion exchange and bullion bank. IBJA has set up its offices in 31 states under his able leadership. He is key person in implementing OECD guidelines for gold industry.
He regularly features on Zee business and CNBC related to gold views.
Jonathan Finney is Head of APAC Business Development at Citadel Securities. In this role, he is responsible for identifying opportunities for global growth and expansion across markets and into new, diverse product lines, including handling exchange, broker and vendor relationships.
Prior to joining Citadel Securities, Mr. Finney worked at Fidelity International for 11 years, most recently as Head of Global Systematic Trading, overseeing the firm’s low-touch and algorithmic trading development.
Mr. Finney received a bachelor’s degree in History from the University of York before receiving a Graduate Diploma in Law from the College of Law, York.
Ashish Fafadia leads the Fintech and Growth portfolios at Blume Ventures, supporting the growth and success of notable portfolio companies such as Slice, Purplle, Turtlemint, Jai Kisan, and Stellapps. He also spearheads fundraising initiatives for Blume’s core, opportunity, and continuity funds across MENA, SE Asia, and India.
An early member of Blume leadership, Ashish joined Sanjay & Karthik at Blume in 2012. He has been pivotal in mentoring and structuring Blume’s platform team. He significantly contributed to the inception and expansion of Constellation Blu, a transaction and financial advisory firm seeded by Blume. A recognized thought leader, Ashish's insights are captured in Blume’s Future of Money report and Fintech thesis. He actively contributes to industry dialogues through platforms like IVCA & PEVC CFO association, showcasing his extensive involvement in the venture capital ecosystem.
A Chartered Accountant and Company Secretary by qualification, he has also been a visiting faculty and speaker at industry associations and premier business schools. He operates out of Mumbai. In the decade prior to joining Blume in its formative years, Ashish was a part of Timesgroup, Standard Chartered Bank, and State Bank of India.
Chief Executive Officer, Singapore Exchange Regulation, SGX Group
Mr. Tan Boon Gin
Mr Tan Boon Gin joined Singapore Exchange (SGX Group) as Chief Regulatory Officer on 15 June 2015. He now heads Singapore Exchange Regulation, an independent regulatory subsidiary of SGX, which undertakes all front-line regulatory functions to promote a fair, orderly and transparent market.
Before joining SGX Group, Mr Tan was the Director of the Commercial Affairs Department of the Singapore Police Force. Prior to this, Mr Tan held several appointments at the Monetary Authority of Singapore (MAS) including Director of the Enforcement Division, Director of the Corporate Finance Division and Executive Director of the Investment Intermediaries Department. Mr Tan was seconded to MAS after serving as a District Judge at Singapore’s Subordinate Courts.
Mr Tan’s earlier roles include serving as a Justices’ Law Clerk at Singapore’s Supreme Court and a Deputy Public Prosecutor at the Attorney General’s Chamber, where he specialised in corruption and white collar crime, before leaving to practise at Messrs Sullivan & Cromwell in New York. He is Chairman of the Board of SATA CommHealth, and serves as Chairman of Energy Market Company Pte Ltd.
Mr Tan is an advocate and solicitor and holds degrees from the University of Cambridge and Harvard Law School. Mr Tan was awarded the Public Administration (Silver) Medal in 2010.
Rajesh M Sharma is currently working with HDFC Bank as an Executive Vice President, Head-Custody Business since May 2018. He has over three decades of experience across institutions and Banks and has worked with Standard Chartered Bank, CITI Bank, ABN AMRO Bank, Stock Holding Corporation of India across various profiles including Business, Product Management and Operations.
He has been instrumental and worked on various initiatives for market development being 1st in the Country like USD-INR Clearing Services and Continuous Linked Settlement (CLS) launched by The Clearing Corporation of India Ltd (CCIL), Indian Depository Receipts (“IDR”) issued by Standard Chartered Bank and Unsponsored Depository Receipts (“UDR”) launched along with NSEIX in GIFT IFSC.
He has strong domain expertise of the Capital Markets, Cash Management and Correspondent Banking in India and have worked with the other markets including Indonesia and Thailand as part of the Regional Product role.
Rajesh has done Master of Financial Management from Jamnalal Bajaj Institute of Management Studies.
Mr. Jisang Yoo is the CEO of Mirae Asset Capital Markets (India) Private Limited since January 2021 and has recently assumed the role of CEO at Mirae Asset Sharekhan.
With over 20 years of experience in Capital Markets, including Brokerage, Wealth Management, Investment Banking, and Asset Management, Mr. Yoo has held key leadership roles globally. After 6.5 years with Mirae Asset Mutual Fund in India, he transitioned to the U.S. market, managing the entire business of Mirae Asset AMC USA. He later served as CEO of Mirae Asset Wealth Management (Brazil) and Mirae Asset Global Investments (Brazil), overseeing major divisions in Latin America.
Mr. Yoo has over a decade of experience in India’s capital markets and was instrumental in the growth of Mirae Asset Global Investments (India) during his tenure as CEO from 2012 to 2016.
Gesu Co-Heads Equity Corporate Finance and has over 28 years of experience in the investment banking industry. Since 2000, she has been with Kotak Investment Bank, building the team at corporate finance over 3 peak cycles. Gesu has a deep understanding of the Indian capital markets and has led fund raising for corporates across various sectors including e-commerce, digital technology & IT services, banking & financial services, healthcare & pharmaceutical, consumer & industrials, etc. She has handled many complex situations through the highs and lows of several capital market cycles.
She has served as the Chairperson on the Board of the Association of Investment Bankers of India and has been its representative on the Primary Markets Advisory Committee of SEBI. She is a member of the Standing Committee on Primary Markets constituted by the International Financial Services Centres Authority (IFSCA).
Over her long innings as a capital market professional, she has been involved with conceptualizing of various products and innovations in the capital markets and has also been a part of several SEBI committees regarding various initiatives for development of Indian capital markets.
Gesu is a people’s person and clients (corporates and financial sponsors) depend on her thorough knowledge and positive attitude to advise them with utmost integrity and diligence.
Gesu is a graduate in Economics (Hon) from Lady Shri Ram College, New Delhi and MBA from Jamnalal Bajaj Institute of Management Studies, Mumbai.