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Mumbai, Feb. 15 The Board of National Securities Depository Ltd (NSDL) has appointed Mr Gagan Rai, currently Executive Director of the company, as Managing Director and CEO.

Mr Rai takes over from Mr C.B. Bhave, who has now been appointed as the Chairman of Securities and Exchange Board of India.

Mr Rai has been the Executive Director of NSDL since its inception in 1996. Before that, he was with Industrial Development Bank of India and Credit Analysis & Research Ltd.

The Board has also appointed Dr R.H. Patil as Non-Executive Chairman of NSDL, a statement from the company said.

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