Gupta `quits' as NSE chairman

Gupta `quits' as NSE chairman
ENS ECONOMIC BUREAU

FEB 13: Former IDBI chairman GP Gupta has `quit' as the chairman of the National Stock Exchange, the largest exchange in the country. "Life Insurance Corporation of India (LIC) chairman GN Bajpai has been elected as the NSE chairman at a meeting held here on Monday," said a press release issued by LIC.

It may be recalled that Gupta retired as the chairman of the Industrial Development Bank of India (IDBI) recently. However, the exit of Gupta from the NSE raised eyebrows in the financial circles. When former IDBI chairman SH Khan retired from the IDBI, he continued as the chairman of the NSE for the next two years.

Bajpai brings with him a rich experience of more than three decades in the financial sector, according to an LIC release. NSE was promoted by financial institutions (mainly IDBI), insurance companies and public sector banks for providing a fair, efficient and transparent securities market to investors using electronic trading system.