S Rao Will Take Over As The New Chairman And Public Interest Director Of BSE

Sudhakar Rao will be the new Chairman of BSE and new Public Interest Director announced by BSE. He is going to replace Mr. S Ramadorai. As Mr. Ramadorai has retired from the position of its Chairman. He was appointed as public interest director and chairman of the board in 2010 and retired on 7 March 2016 after serving BSE for six years.

Currently there are five Public Interest Directors on the BSE’s Board including eminent chartered accountant Sethurathnam Ravi who was appointed last month. Previously, Ravi has served on the boards of ONGC, BHEL and Hindustan Aeronautics Ltd. Currently, Mr. Ravi is on boards of IDBI Bank, STCI Finance Ltd, Tourism Finance Corporation of India and UTI Trustee Company Pvt Ltd, among others. 
Mr. Sudhakar Rao is a retired IAS Officer of the 1973 batch. He has previously held several positions in state and central government level. On retirement from the government service, he was appointed as a Member of the Public Enterprises Selection Board (PESB) from which post he resigned in 2010. 

Presently, Rao is also an independent director on the boards of Indian Oil Corporation, CMC Ltd and L&T Infrastructure Development Projects Ltd. He is the Group Advisor, Strategy and Development of the Manipal Education and Medical Group. 

The Bombay Stock Exchange (BSE) is Asia’s first stock exchange and the world’s fastest stock exchange with a median trade speed of 6 microseconds. The BSE is the world’s 11th largest stock exchange with an overall market capitalization of $1.7 trillion as of January 23, 2015. More than 5500 companies are publicly listed on the BSE. 

The Sensex is an indicator of all the major companies listed on BSE (Bombay Stock Exchange). Sensex and NIFTY are two such prominent market indices that function within the Indian stock market. These two are the major stock exchanges in the country. Most of the stock trading in the country is done though the BSE & the NSE.

Extra Info : 
Founder: Premchand Roychand
Founded: July 9, 1875, 
Headquarter : Dalal Street, Mumbai
CEO: Ashish Chauhan
So lets discuss some questions related to this post which can be asked in the upcoming exams :
1. Name the person who will take over as the new chairman and public interest director of BSE ?
2. Mr. S Rao has replaced whom as the new chairman of BSE ?
3. Expand the term BSE & PESB ?
Courtesy : Business Standard 

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