Board Of Directors

Independent Director & Chairman of the Board of Directors

Retired IAS of 1979

Shri B. K. Bal belonged to the Indian Administrative Service (IAS) of 1979 batch. He has worked in various capacities in the infrastructure, financial, regulatory and development sectors in senior positions in two State Governments of Tripura and Odisha, and in the Government of India. In addition, he has worked at United Nations World Food Program (UNWFP) in India for more than nine years implementing various development programs and technology-based solutions in different States. Prior to joining IAS in 1979, he had worked in the Banking sector for over 4 years. He was involved with Central Government and State Government (Tripura and Odisha) PSUs as Director on the Board of Directors including as Chairman-cum-Managing Director (additional charge) in a Central PSU. In his last assignment, he worked as a founding Member of the Warehousing Development and Regulatory Authority (WDRA).

Independent Director

He has over 42 years of vast industry experience in IT - Software Development, Infrastructure Services (Datacenters, Networks, Operating Systems and Databases) and Cyber Security for organizations operating in Financial Services , Capital Markets, and Manufacturing Industry .

In his thirteen years stint as CIO of BSE, Kersi has played a leading role to transform BSE into world’s fastest exchange with response times of 6 microseconds. He is strong proponent of Open-Source Technologies and has demonstrated “Walk the Talk” by successfully implementing one of the Largest Data Warehouse on Open-Source Platform. Taking this to next level, he is instrumental in use of Artificial Intelligence & Machine Learning in BSE’s surveillance function by implementing Social Media Analytics for rumor verification.

Providing technical leadership & architectural vision is core to his heart. Under his leadership at BSE Limited, many such mission critical projects/ applications have been implemented and some of the noteworthy implementations are successfully designed and built multiple datacenters for the exchanges and have automated complete disaster recovery procedures as well as the day-to-day business systems operations.

In the Digital arena, under his leadership, BSE is the first Exchange to have conceptualized and built next generation Cyber Security Operations Centre consisting over 45 advanced technologies. The Cyber Security SOC setup at BSE has become ideal role model to be implemented in the industry given the depth and reference point for its coverage and span.

Before his impactful journey with BSE, he held key roles in various financial institutions viz HSBC InvestDirect, Motilal Oswal Securities Limited, Apple Finance Limited, XLO Group of Cos. His wealth of experience and expertise has consistently positioned him as a driving force behind the technological evolution of the financial sector.

Known for experience and thought leadership, he has been recognized and awarded at national and international level for his exemplary service and achievements. He has been member of the Technology Advisory Group of Reserve Bank Of India for their Centralised Information Management System .

In his second innings, he has embarked on the journey as on Advisor in Digital Transformation and Cyber Security.
He is also an :
1. Independent Director on the Board of Axis Securities Limited.
2. Executive Coach and Capital Markets Leader with StatusNeo Technologies .
3. Member of the Technology Advisory Group of Reserve Bank Of India for their Centralised Information Management System .
4. Member on the Advisory Board of Cymmetri ( A Converged Identity and Access Management Solutions company).
5. Member of the Technology Advisory Committee of Countrywide Commodities Repository Limited.

Independent Director

A seasoned and results-oriented banking professional with over 38 years of distinguished service at the State Bank of India (SBI), rising through 12 successive leadership roles to culminate as Chief General Manager at the Corporate Centre, Mumbai. Widely recognized for domain expertise in Retail, MSME, Agriculture Finance, and Financial Inclusion, and a proven track record of transforming strategy into execution with measurable impact.

In his role as Chief General Manager, led SBI’s Agriculture Loans and MSME Financial Inclusion verticals at the Corporate Centre. Oversaw an agriculture loan portfolio exceeding ₹3 trillion, achieving approx. 18% YoY growth while ensuring improved credit quality and sustaining a single-digit NPA level. Pioneered the strategic transition to the Agile Agri Loan Management System, launched innovative products such as the Agri Enterprise Loan, and enabled digital credit delivery through platforms like JanSamarth and RBIH’s Digital KCC. Simultaneously managed the MSME Financial Inclusion vertical with a portfolio over ₹0.50 trillion, initiating the flagship “Swayam Siddha” program to promote women-led and women-owned micro-enterprises, and strengthening institutional linkages with key government ministries and ecosystem partners.

Prior leadership roles include serving as General Manager and Deputy General Manager across Karnataka, Delhi NCR, and Maharashtra, where he led large banking networks comprising over 500 branches, achieving significant growth in retail, housing, MSME, and agri-loans, while expanding deposit bases and building enduring partnerships for SHG financing. As Regional Manager, successfully scaled up performance in priority sectors and championed early digital banking initiatives.

Core Competencies:
• Retail, MSME & Agri-Finance Strategy
• Risk, Compliance & Portfolio Management
• Financial Inclusion & SHG Ecosystems
• Digital Transformation & Product Innovation
• Strategic Planning & Government Engagement
• Leadership Development & Change Management

Honors & Awards:
• National Award for SHG Bank Linkage Program (2023)
• Agri Development Leadership Award (2024)
• Agri Infra Fund Award (2023, 2024)

Committee Memberships:
• Co-Lending Committee
• WDRA Advisory Panel
• Ministry of Agriculture Committee on FPO Financing

Shareholder Director

Chief Operating Officer, Multi Commodity Exchange of India Ltd.

Shri Manoj Jain is a shareholder Director nominated by Multi Commodity Exchange of India Limited (MCX). He is the Chief Operating Officer (COO) of the exchange. He is overseeing HR, Admin, Research, ERM, Finance and Accounts, CSR and few regulatory departments of the Exchange. He has about 25 years of experience in securities markets covering regulatory affairs and policy making, capital market operations, business development, fund accounting operations and IT project management. He has been associated with MCX since November 2021; and in the past had been associated with firms like Axis Bank, IL&FS Securities, Perot Systems (now NTT Data), Wipro, ICRA and SEBI. He is MBA from FMS, University of Delhi. BTech from NIT Kurukshetra.

Shareholder Director

Sachin Nayak is a is a shareholder Director nominated by the holding company Central Depository Services (India) Limited [CDSL]. A Chartered Accountant from the Institute of Chartered Accountants of India, with more than 18 years of post-qualification experience in the areas of Trade Operations, Trade Surveillance, Investigation and Regulatory compliance. He was closely involved in the successful and seamless launch of wide range of Stock Exchange segments including Equity, Equity Derivatives, Currency Derivatives and Debt. He has a proven track record of establishing large scale Operations in line with Regulatory requirements and quickly scaling them effectively to create sustainable business.

He is presently working as Vice President in the Operations Department of CDSL. Prior to joining CDSL he was Heading Market Operations at Metropolitan Stock Exchange and had also worked with National Stock Exchange, ICICI Bank and Citi Group.

He is highly skilled leader with in depth experience in Operations, Compliance, managing and building teams.

Shareholder Director

Girish has been with Central Depository Services (India) Limited (CDSL) since November 7, 2019. Initially, his responsibilities spanned finance-related tasks and enterprise risk management activities until August 2021. Additionally, he manages the investment operations at CDSL. His financial duties encompass a broad range of activities, including overseeing financial results, preparing financial statements, managing taxation and regulatory compliance, performing budget forecasting, handling investments, and ensuring internal control over financial reporting and overall operations.

Girish possesses over 31 years of comprehensive experience in Finance, Treasury, Taxation, Statutory and Internal Audits, as well as ISO audits. He facilitates the operations of the Audit Committee, collaborating closely with the Chairman and other committee members. In addition, he is part of the executive management team at CDSL, regularly attending Governing Board meetings.

Girish has extensive work experience primarily in the capital markets and retail sector. His experience in the capital markets includes roles at CDSL and BSE Limited, while his retail sector experience is with Bombay Swadeshi Stores Limited. Throughout his career, Girish has worked with listed entities.

Girish engages actively with the investor community to offer insights into CDSL's financial performance and business operations. He diligently manages risks related to finance and investment activities. Additionally, he is a member of CDSL's executive management team.

Shareholder Director

Kamlesh Jagetiya is currently working as Financial Controller in BSE Limited.

Kamlesh is finance professional with overall 25 years of experience in Financial Industry, he has worked across Leading Insurance Companies, Wealth Management and Broking Companies handling Finance, Accounts, Corporate Governance, Treasury, Taxation and Planning. He has been associated with Future Generali Life Insurance, Aegon Life Insurance, Citi Group Wealth Management and Birla Sunlife Securities in Finance domain including setting up of Finance Structure in digital scenario.

Kamlesh is a commerce graduate and a Chartered Accountant by qualification. His hobbies are reading on Business and Current Affairs, Travelling and Sports.

MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER

Shri Kamlendra Srivastava is a management professional with cross-functional expertise at senior levels across industries in FMCG, Agriculture, Commodity Trading and Management Consulting in public and private sectors. As Business Leader Kamlendra has held Strategy and P&L responsibilities, setup and launched businesses in Commodity Supply Chains, provided vision, leadership and delivery of Supply Chain metrics inclusive of Procurement, Warehousing and Distribution. Passionate People’s Leader, Kamlendra has led large teams, with clear direction and focus on Goals & Objectives and inspiring communication. He has been delivering excellent results during 30+ years of experience in the effective running of enterprises.

Playing a key role in managing team performance, Kamlendra, driven by the key values of leadership, innovation and responsiveness, always ensures to implement measures for wastage control, cost rationalization and increased productivity. His previous assignments have been with large and reputed organisations at senior levels including NAFED, Food Corporation of India, MMTC Limited, Pricewaterhouse Coopers and ICICI Bank among others.

An alumnus of Indian Institute of Management Ahmedabad holding Post Graduate Diploma in Management (Agriculture), Kamlendra also holds B. Tech. in Agriculture Engineering from University of Allahabad, in addition to being a Certified Independent Director from Indian Institute of Corporate Affairs and a SAP Certified Functional Consultant in Total Supply Chain Management.