Newsletter dated 10th November, 2015

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“When the middle is well and good, the past is repaired and
the future is prepared”
Law Updates:
 Government authorizes Post Offices to receive sovereign gold bond
applications.
 Use of Digital Signature Certificate for filing of documents
(BEs/SBs/IGM/EGM/CGM) would be mandatory w.e.f. 1st January, 2016.
 The Foreign Investment Promotion Board (FIPB) has cleared four FDI
proposals worth Rs. 384 crore including that of pharma firm Lupin.
 The Markit India Business Outlook survey points to the weakest degree of
optimism among private sector companies since the inception of the
survey in October 2009. The current outlook is also well below the global
average.
 "The government will take a decision on reducing small savings rate by the
end of this month," a Finance Ministry official said.
PROFESSIONALS INPUTS:
 IRDA vide Notification No. F.No. IRDAI/Reg/18/108/2015 dated 09
November, 2015 has notified the Insurance Regulatory and Development
Authority of India (Insurance Surveyors and Loss Assessors) Regulations,
2015.
 CBDT vide Instruction No. 16/2015, dated 06 November, 2015 prescribed
time limit of six months in passing order u/s 12AA of the Income-tax Act,
1961. The CCIT (Exemptions) will monitor the adherence of prescribed
time limit and initiate suitable administrative action in case any laxity in
adhering to the same is noticed.
 BSE vide Media Release dated 09th
November, 2015 announces that Indian
Issuers will get new access to Underlying Shareholder Information.
MARKET WATCH:
SENSEX: 26020.76 -101.33 NIFTY: 7879.85 -35.55
SILVER: 34500.00 -410.00 GOLD (MCX): 25695.00 172.00
USD/INR: 66.45 0.69 CRUDE OIL: 2928.00 -22.00
CS Rajiv Bajaj
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Date: 10th November, 2015

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CHITRA RAMKRISHNA
Chief Executive Officer and Managing Director,
NSE
"Develop a passion for learning. If you do, you
will never cease to grow."
Chitra Ramkrishna is the first woman managing director and
chief executive officer of the National Stock Exchange (NSE),
an institution founded in the early 1990s to reform the capital
market in India, and now ranking as the world's largest exchange
in cash market trades and as one of the top three exchanges in
index and stock derivatives. As the MD and CEO, Ms.
Ramkrishna has not only maintained the rich legacy of this great
institution, but her tireless endeavour has ensured it has scaled
new heights.
Moreover, her professional career includes the following positions:
 Joint managing director of National Stock Exchange of India Ltd.
 Head of Listing and Deputy managing director of National Stock Exchange of India Ltd.
 Member of Derivatives Panel of Securities And Exchange Board Of India.
 Director of National Stock Exchange of India Ltd.
 Member of Executive Committee at National Securities Depository Ltd. since 9 March 2009
Brief Career:
Starting out as a chartered accountant, her first brush with finance came in 1985 when she joined the project finance
division of Industrial Development Bank of India (IDBI). Ramkrishna then had a stint at Securities and Exchange Board of
India (SEBI) and returned to IDBI two years later. It was here that she honed her financial skills, working at the treasury
and fixed income departments before coming into her own while marketing the trendsetting deep discount bonds.
Her talent was such that the late RH Patil, executive director of IDBI at the time, complimented the young Ramkrishna for
her extraordinary work and her role in making the bond issue a success. “In a public sector organisation, a senior manager
rarely had a conversation with his junior. What Dr Patil did was completely unheard of. I was inspired and motivated to
push myself further. Dr Patil was a visionary and a thinker and never seeded any doubts in our minds,” Ramkrishna says of
the man who is widely credited with creating NSE.
Not surprising, she soon found herself as one of the five handpicked by the late SS Nadkarni, who was then IDBI
chairman, to set up NSE from scratch.
Ms. Ramkrishna has been associated with matters pertaining to market regulation and policy making even before the NSE
was set up: an association that helped her take up the new responsibility with confidence. In the late 1980s, Ms.
Ramkrishna was closely involved in the drafting of the legislative framework of the Securities and Exchange Board of
India (SEBI), the country's capital market regulator. Even today, she continues to be a part of several SEBI committees on
different policy issues such as the Secondary Market Advisory Committee and the Committee on Disclosures and
Accounting Standards.
Over the years, captains of the financial and the corporate sector in India has increasingly recognised Ramkrishna as an
institution builder and a thought leader. She is actively engaged in many important industry-body committees such as the
CII's National Council on Financial Sector Development, FICCI's National Executive Committee and Capital Markets
Committee, which provides her the opportunity to share her experience and knowledge and to closely interact with
members from the industry.
Awards and recognition
Forbes' Women Leader of the year (2013): For striking a delicate balance between the exchange’s commercial and
regulatory roles and keeping NSE ahead of the pack with a high degree of professionalism, new products and cutting-edge
technology.
Fortune magazine ranked her at the seventeenth position in the list of top Global Women Business Leaders.