NSDL appoints Subhash Kelkar as Executive Director for five years
National Securities Depository Limited appointed Subhash Kelkar as Executive Director - Vertical 1 (Critical Operations) for a five-year term starting July 02, 2026. Kelkar, formerly Chief Technology Officer at BSE, brings 33 years of experience in market infrastructure and technology.
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National Securities Depository Limited has appointed Subhash Kelkar as Executive Director - Vertical 1 (Critical Operations) on its Governing Board for a period of five years effective July 02, 2026. The appointment strengthens the depository's leadership in critical operations, leveraging Kelkar's extensive experience in market infrastructure and technology.
The appointment follows the approval of the Nomination and Remuneration Committee and the Governing Board at their meeting held on June 03, 2026. The Securities and Exchange Board of India (SEBI) granted its approval via letter no. HO/47/22/16(3)2026-MRD-RAC2-I/12348/2026 dated May 25, 2026. The disclosure was made to the exchange in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Profile of Subhash Kelkar
Subhash Kelkar holds a Post Graduate Diploma in Software Technology from the National Centre for Software Technology (1992) and a Bachelor of Engineering in Mechanical from Sardar Patel College of Engineering (1989). He brings nearly 33 years of experience to the role, with deep expertise in mission-critical market infrastructure, including stock exchange operations, clearing and settlement ecosystems, and large-scale, low-latency platforms.
Prior to joining NSDL, Kelkar served as Chief Technology Officer at BSE, where he led the technology transformation of one of India's oldest and most systemically important financial institutions. He also served as a Director across multiple BSE subsidiaries. Before his tenure at BSE, he was the Chief Technology & Digital Officer at ICICI Securities, where he defined and executed the digital transformation strategy.
Appointment Details
| Particulars | Details |
|---|---|
| Designation | Executive Director - Vertical 1 (Critical Operations) |
| Date of Appointment | July 02, 2026 |
| Term | 5 years |
| Previous Role | Chief Technology Officer, BSE |
There are no disclosed relationships between Kelkar and other directors of the company.
Historical Stock Returns for National Securities Depository (NSDL)
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.01% | -4.85% | +6.29% | -19.55% | -8.84% | -8.84% |
How will Kelkar's expertise in low-latency platforms influence NSDL's technology roadmap over the next five years?
What strategic changes can be expected in NSDL's clearing and settlement ecosystems under his leadership?
Could this appointment signal a shift towards greater digital transformation for NSDL compared to its competitors?
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