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Indian police arrest former head of NSE stock exchange Ramkrishna source

FILE PHOTO: Chitra Ramkrishna, Managing Director and CEO, National Stock Exchange (India), attends the panel discussion The Future of Finance during the IMF-World Bank Annual Meetings in Washington
FILE PHOTO: Chitra Ramkrishna, Managing Director and CEO, National Stock Exchange (India), attends The Future of Finance panel discussion during the IMF-World Bank annual meeting in Washington October 12, 2014. REUTERS/Yuri Gripas

March 6, 2022

NEW DELHI (Reuters) – Indian Federal Police on Sunday arrested the former chief executive of the National Stock Exchange of India in a case related to alleged governance failures at India’s top stock exchange, a source with direct knowledge told Reuters.

Chitra Ramkrishna was arrested in New Delhi, the Central Bureau of Investigation (CBI) source said, without giving further details.

Market regulators fined Ramkrishna, among others, after an investigation revealed she had for years sought advice from an outsider whom she described as a Himalayan yogi.

The action is the latest sign the CBI is stepping up its investigation into a 2018 case involving allegations that the NSE granted some high-frequency traders unfair access to speed up algorithmic trading. The additional review carries the risk of further delaying a planned NSE listing.

Sunday’s arrest follows a Feb. 11 order from the market regulator, which highlighted flaws in the stock market and said Ramkrishna, who quit as CEO in 2016, was “just a puppet” of someone she described as a yogi.

(Reporting by Aditya Kalra and Aditi Shah, Editing by Kevin Liffey and David Goodman)

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Caroline Bleakley

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