Vikram Limaye took charge as a managing director (MD) and chief executive officer (CEO) of the National Stock Exchange (NSE) on Monday and expressed optimism during his maiden address to the exchange's employees.
“I am very optimistic about the future and I strongly believe the best is yet to come for NSE group,” said Limaye. He conveyed the message through an email sent to all NSE staffers at 10:10 am highlighting the importance of the institution in market development, challenges faced and need for working together. Business Standard has access to the copy of the letter.
“We are all here because we believe in a higher purpose. We are an institution of national importance and a critical pillar of the country’s market infrastructure. We will play a key role in the development of markets and in providing the products and infrastructure to fund the country’s growth through [a] better intermediation of savings and providing access to capital to our country’s companies and entrepreneurs. Our objective must be to do what is in the national interest and in the interests of market development,” Limaye, 50, said.
The former MD & CEO of IDFC wrote that NSE must work towards enhancing the confidence in “India’s growth story and trust in Indian markets”.
He called for adopting the best in a class standard for technology and risk management.
“While currently the institution is faced with certain challenges, I am confident we will overcome these issues by working together and emerge as a stronger and better organisation,” the email said without getting into specific issues faced by the exchange.
Limaye said, “we need to improve relationships with all our stakeholders (regulators, government, customers, employees, shareholders and media) and strengthen our processes and controls.”
Asking everyone to work together, Limaye said, “we can achieve our objectives if we commit ourselves to the highest standards of governance, team work, excellence and a spirit of stewardship.”
He further said, “organisation above self must be the driving principle in how we conduct ourselves.”