BSE sets up advisory panel for business development

Our Markets Bureau

Mumbai, Oct 3: The Stock Exchange, Mumbai (BSE), has formed an advisory committee for business development. The committee will be the apex body to provide advice to the BSE governing board on the various areas.

The committee is to advice on strategy and overall business plans, new products and services, strategic alliances, marketing and business development and capital market research for policy initiatives.

The committee will be widely represented by eminent members from the financial world. Representatives from financial institutions and banks include, managing director ABN Amro Securities Vishnu Deuskar; chief general manager of State bank of India P Rajeshwar Rao; Deputy general manager- treasury, ICICI N Balasubramaniam; and CEO of JM Mutual Fund Vijayan Krishnamurthy. Academician includes Prof R Vaidyanathan, IIM- Bangalore. Members from BSE governing board include Mrs Anna Malhotra retd IAS, Mr SS Thakur, ex chairman HDFC Bank, Prof Samir K Barua, IIM- Ahmedabad.

Members from exchange administration include, Mr AN Joshi, executive director, Dr Manoj Vaish deputy executive director, Mr SB Patankar, director -information systems and Mr ST Gerela CEO, clearing and Settlement. Representatives from brokers include Mr Ketan Gandhi, Mr Ramesh Damani, Mr Sidharth Shah and Mr Prakash Kacholia.

According to one of the trade representatives, this committee is just a consultative body, mainly created to know the practical aspect of a product. But it is purely an informal body non-executive by nature. It might last for a year, then the governing body will decide whether to renew it or extend it.

But the decision making will entirely be in the hands of the governing board and the entire committee, like representatives from financial institutions/banks, Academician and trade representatives is just broad type of unit giving direction, he added.

The governing body needs lots of input from various industry experts in various segments and we would providing it, he said while elaborating on the need for appointment of such committee.

In the governing board there is broker representatives so by including us as consulting body it will help the governing body for a proper decision making, the spokesman said.