C B Bhave

C B Bhave is working as the Managing Director of the National Securities Depository Ltd. (NSDL) since its inception in July 1996. He recently took over as the Chairman and Managing Director of the company. The Depository became operational in November 1996. More than 99.9% of the settlement in Indian stock exchanges is in paperless form now. NSDL is the first depository in India. Bhave worked in the Securities and Exchange Board of India (SEBI) as a Senior Executive Director from 1992-96. He was in charge of the Secondary Market Department till 1995 and of the Primary Market Department thereafter. He was the Additional Industries Commissioner for State of Maharashtra (Mumbai) during 1989-1992. He was responsible for the development of infrastructure for attracting industries to the State. He has worked in Government of India as a Deputy Secretary in the Ministry of Petroleum from 1984-1989. In this assignment he was instrumental in formulating the policy for offering offshore blocks to overseas oil companies. Bhave started his career in the Indian Administrative Service in 1975. Bhave has been a member of a number of committees constituted by SEBI and RBI. Among the other committees, at present, he is a member of the Securities Market Infrastructure Leveraging Expert (SMILE) Task Force and Advisory Committee on Secondary Market constituted by SEBI. He is also a member of the Committee on External Commercial Borrowings and the Committee on Procedures and Performance Audit on Public Services constituted by Reserve Bank of India. Bhave holds a Bachelors Degree in Electrical Engineering.