Page 11 - Banking Finance September 2022

ROUNDUP

Industry

Ashish Kumar Chauhan set PM launches India's 1st examine different stretches of the flag-
ship Char Dham road project in
to become NSE MD, CEO international bullion
Uttarakhand. Officials said this system
Sebi has approved the appointment of
bourse would be institutionalised for the high-
Ashish Kumar Chauhan as the next
Prime Minister Narendra Modi way sector to ensure that the road
Managing Director and CEO of the
launched the India International Bul- projects are at par with the quality
National Stock Exchange (NSE), the
lion Exchange (IIBX), India's first Inter- parameters set by the government.
country's largest stock exchange.
national Bullion Exchange, and NSE
Chauhan is currently the MD and CEO
IFSC-SGX Connect at Gandhinagar's New web-based facility for
of the BSE and his tenure will end in
GIFT city, an international financial
November this year. He will join in ration cards launched
services hub set up by the Gujarat gov-
place of Vikram Limaye whose five- The Centre launched a common regis-
ernment outside the State capital.
year tenure ended on July 15. tration facility in 11 states and UTs to
Moreover, setting up of IIBX could lead
Chauhan is one of the founders of the enable homeless people, destitutes,
to standard gold pricing in the country
NSE where he worked from 1992 to migrants and other eligible beneficia-
and make it easier for small bullion
2000. At the NSE, he was involved in ries to apply for ration cards.
dealers and jewellers to trade in the
setting up India's first fully automated
precious metal. The National Food Security Act (NFSA)
screen-based trading system and first
provides a maximum coverage for
commercial satellite communications about 81.35 crore persons. At present,
Govt to audit construction
network.
around 79.77 crore persons are given
This is Chauhan's second tenure in the quality audit of National highly subsidised foodgrains under the
BSE and under SEBI guidelines, a can- Act.
Highways
didate cannot be appointed as MD &
Amid the accelerated pace of highway
CEO for more than two tenures. BSE is
construction and concerns over Risk Management failures
also searching for a new CEO in place
whether contractors are adhering to
of Chauhan. in global companies esca-
quality specifications, the road trans-
As per Sebi norm, the MD and CEO of late cyber threats
port ministry has taken a first-of-its
a stock exchange has to apply and
kind step to carry out audit of construc- Over half (54%) of global organisations
compete with other candidates for the
tion quality and safety aspects of com- believe their risk assessments aren't
top job after the completion of the
pleted and under-construction mature enough, potentially exposing
five-year term. Limaye was appointed
stretches. them to escalating cyber-threats, ac-
the NSE chief in July 2017 following the
cording to Trend Micro.
exit of Chitra Ramkrishna amid the To begin with, the ministry has ap-
probe into co-location scam. pointed six independent experts to The security vendor polled over 6,290
BANKING FINANCE | SEPTEMBER | 2022 | 11