Investments in India will continue to grow: Limaye to NSE employees

Mumbai, July 17 (IANS) The National Stock Exchange of India's (NSE) new Managing Director and Chief Executive Officer Vikram Limaye who took charge on Monday told the company's employees that investments in India will continue to grow and have a positive effect on the Indian markets.

"The economy is on a growth path and given political and macro-economic stability, investments in India will continue to grow which will also be a positive for Indian markets," Limaye said in a letter to the stock exchange major's employees.

Limaye took charge as the NSE's new MD and CEO on Monday.

"Our objective must be to do what is in the national interest and in the interests of market development. We must continue to do everything to enhance confidence in India's growth story and trust in Indian markets," the letter read.

"Technology and risk management are key to efficient functioning of markets and we must adopt best in class standards for these two areas."

According to Limaye, the organisation needs to improve relationships with all stakeholders and strengthen its processes and controls.

Last Friday, the NSE said: "Vikram Limaye has been relieved by the Supreme Court of his responsibilities at the Committee of Administrators of BCCI, with immediate effect."

"He will be joining the National Stock Exchange of India limited as Managing Director and CEO from Monday the 17th of July, 2017."

On June 9, the NSE announced that stock markets regulator SEBI had approved the appointment of Limaye as its new MD and CEO.

The stock exchange major at that time had said that Limaye's appointment will be subject to his being relieved from his "BCCI (COA)" assignment.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)