The Business Bytes
Mumbai, November 29, 2024 (TBB Bureau): Vijay Chandok, a seasoned banker and financial market veteran with over three decades of experience, has assumed the role of Managing Director and Chief Executive Officer (MD & CEO) of National Securities Depository Limited (NSDL), effective immediately.
Chandok, known for his deep expertise in the BFSI sector, joins NSDL after an illustrious career with the ICICI Group. His contributions include serving on the Board of ICICI Bank as an Executive Director and, most recently, as the Managing Director and CEO of ICICI Securities Ltd.
An accomplished professional, Chandok holds a master’s degree in Management Studies (MMS) from Narsee Monjee Institute of Management Studies (NMIMS), Mumbai, and a bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology (Banaras Hindu University) (IIT-BHU), Varanasi. His exceptional contributions were recognized when he was conferred with the Distinguished Alumnus Award by NMIMS University in 2017.
NSDL, India’s first and leading securities depository, continues to set benchmarks in the financial markets. In September 2024, it became the first depository in India to achieve ₹500 Lakh Crore (US $6 Trillion) in the value of assets held in custody, with an impressive 86.83% market share in the value of demat assets for FY 2023-24. With its extensive network of over 63,000 service centers spanning across every state and union territory in India, NSDL boasts demat accounts in more than 99.3% of Indian pin codes. It offers a wide range of cutting-edge services, including the NSDL SPEEDe App, API/technology integrations, Digital Loan Against Securities (Digital LAS), and Foreign Portfolio Investor (FPI) monitoring services.
Under Chandok’s stewardship, NSDL is poised to further strengthen its role in India’s financial ecosystem by expanding its technological offerings and reinforcing its commitment to providing seamless and secure services to investors, brokers, and participants.
With his proven track record and extensive expertise, Chandok’s leadership is expected to usher in a new era of growth and innovation at NSDL, cementing its status as a cornerstone of India’s financial infrastructure.
