Mr. V. Balasubramaniam (Bala) is the founding Managing Director and Chief Executive Officer of India International Exchange IFSC Ltd. (India INX) the first International Exchange from India in GIFT City International Financial Services Centre Special Economic Zone which started its operations from January, 2017 and a subsidiary of BSE (Asia's first stock exchange). He also holds board position in the following organizations –-
BSE Institute Limited
India INX Global Access IFSC Limited
India International Bullion Holding IFSC limited
India International Bullion Exchange IFSC Limited
Committee of Experts on positioning IFSC as a hub for offshore trading in INR
In addition to the above, he is also a member of following committees of IFSCA:
Committee of Experts on Sustainable Finance
Committee of Experts on Investment Funds
Committee of Experts on positioning IFSC as a hub for offshore trading in INR
Prior to this, he was the Chief Business Officer of BSE heading the business development encompassing all business segments viz. Equities, Equity Derivatives, Debt, Interest Rate Futures, Currency Derivatives, Mutual Fund Distribution platform and SME platform. In addition to the markets business, he was also responsible for the listings and data business of BSE and managing the entire trading operations and membership operations.
He has over 31 years of experience in the Capital Markets industry and has previously worked with Reliance Group as Vice President and was also as co-founder of BSE Technologies Private Limited which was acquired by BSE.
He was also part of the core team involved in setting up the National Stock Exchange of India. He was instrumental in creating the Capital Market segment, Nifty Index creation, setup of NSCCL as the first clearing corporation in India, NCFM certification creation and the Futures and Options segment inter-alia.
He has served in the board of Central Depository Services (India) Limited, Futures Industry Association – Asia, Co-Chair of FICCI Capital Market Committee etc.
He has Masters in Commerce from the University of Mumbai, Rank holder from the Institute of Cost Accountants of India, Diploma from Institute of Chartered Financial Analysts of India and is a Certified Information Systems Auditor.
Mr. Arun Ganesan
Managing Director & CEO
Mr. Arunkumar Ganesan heads Business Operations of the exchange including Trading Operations and Trading Development.
He has more than 20 years of experience in the area of Trading Operations, Clearing & Settlement, custody operations and Internal Controls
He has previously worked in NSE, DGCX, HSBC, BFX and L&T in various roles.
He is a qualified Chartered Accountant and Cost Accountant
Mr. Sameer Patil
Shri Sameer has more than 23 years of experience with a deep understanding of traded equity and debt assets classes, underlying physical commodity markets, and global Index /FX / interest rate / commodity derivatives in both exchange and OTC markets. In his present role as Chief Business Officer, he spearheads the entire BSE group’s Business Development and Marketing function which includes trading and distribution functions, as strategic ventures of the exchange. Under his leadership, BSE has seen a revival of market share in tradition business segments such as equity, equity derivatives, currency derivatives and fixed income segments. He is also instrumental in BSE’s business expansion and leadership in newer areas such as interest rate options, and commodity derivatives markets.
He was instrumental in conceptualization and setting up of India’s first International Exchange in GIFT CITY IFSC – “INDIA International Exchange “– where he oversees the Business Development and Marketing function. In a very short time period, India INX has witnessed a single day turnover of over US$ 30 billion and a market share of over 90 percent. He is also credited to launch first of its kind outbound platform India INX GA in GIFT CITY IFSC for Indian Investors to access Global Exchanges like CME, LME, ICE etc.
Due to his rich experience and professional skillset, he is part of various committees and working groups of the Government of India, regulatory bodies like SEBI / IFSCA / Niti Aayog and Global bodies and associations. In this role he has played a key role in the conceptualizing of Gold Spot Exchange in both GIFT city and India Domestic Zone and launch of World’s first ‘Options in Goods’ in commodity segment.
In his previous assignment as Senior Vice President (PKMT & Business Development) at MCX, where he was one of the core founding team Member responsible for the setup of the commodity exchange in India. He is credited for successful launch of the flagship contracts on MCX the Gold, Silver, WTI Crude Oil and Copper contracts. The Gold Petal contract launched on April 18, 2011 was awarded as the Best Innovative contract of the year by FOW Singapore. During his tenure at MCX, he was also instrument in successfully launching and heading business functions at domestic exchanges like MCX and MCX-SX, and International Exchanges including:
Dubai Gold and Commodities Exchange (DGCX - Dubai)
Singapore Mercantile Exchange (SMX – Singapore)
Bahrain Financial Exchange (BFX – Bahrain)
Global Board of Trade (GBoT – Mauritius)
Bourse Africa (Botswana)
He began his career with K J Investors Services (I) PVT LTD, an affiliate of Cargill Investors Services, Illinois, Chicago, USA as Senior Financial Analyst.
He currently serves as the member of the Board of Directors of:
India INX Global Access IFSC Limited
Indian Clearing Corporation Limited
BSE E-Agricultural Markets Limited
BSE Sammaan CSR Limited
India International Clearing Corporation (IFSC) Limited
India International Exchange (IFSC) Limited
He is considered a credible and trusted domain expert in a diverse areas ranging from commodities trading, Index development, Hedging Strategies, Financial Product Design & launch, and physical market outreach. He is awarded the “India UAE business Ambassador of the year 2018” at Abu Dhabi for his achievements in financial markets globally. He is Science Graduate from Mumbai University and MBA in finance.
Dr. Ajit Phanse
Dr. Ajit Phanse has around 26 years of work experience in senior roles in operations and functional consulting
across the securities markets, insurance and banking sectors.
He has been part of leading organisations in the Indian financial services like the National Stock Exchange of
India Ltd, Stock Holding Corporation of India Ltd., Tata AIA Life Insurance, Birla Sun Life Insurance and ICICI
He has wide ranging experience in handling core operations across Membership, Compliance, Projects, Settlements,
Client Services etc.
Ajit has done his MBA from the University of Pune, India from where he also completed his doctorate in business
management. He has also completed various certifications recognized by the sector regulators across the banking,
securities market and insurance services.
Ms. Kirshna Gangopadhyay
Ms. Krishna Gangopadhyay heads strategy and international relations for the International Exchange
She has more than 16 years of experience across financial services, telecommunications in the area of strategy and implementation, risk management, business transformation
Prior to this, she has worked at CRISIL Risk Solutions, A.T. Kearney, HSBC and GE Capital International Services in various roles
She is an MBA from Indian Institute of Management, Calcutta and is a Rank holder from Jawaharlal Nehru University in M.A. Economics
Ms. Gunjan Mirani
Ms. Gunjan Mirani has around 27 years of work experience in the securities industries.
She has previously worked with Indian Clearing Corporation Limited, CD Equisearch Private Limited, Eureka Stock and Share Broking Services Private Limited. Her last assignment was at the Indian Clearing Corporation Limited as Assistant General Manager – Finance and Accounts.
She has wide range of experience in dealing with Foreign Portfolio Investors, Financial Institutions, HNI broking, arbitrage, portfolio management, treasury & financial operations.
She has also worked as Systems Manager in her earlier role at a broking company where she managed databases and front-end development using Sybase power builder. She also handled the networking and telecommunication at the firm.
Ms. Mirani has a Bachelor of Commerce degree from University of Calcutta, Post Graduate Diploma in PR from Bhartiya Vidhya Bhavan and Post-Graduation in Software Engineering from CMC Limited.
Shri Nikhil Mehta
Shri Nikhil Mehta is an Associate Member of Institute of Company Secretaries of India.
Shri Nikhil Mehta has the following Education Qualification/Degrees in addition to the above.
a) Masters of Commerce from Mumbai University.
b) CFA (Chartered Financial Analyst) – From ICFAI University.
c) Masters of Business Administration (Evening) – from B.K School of Business Management, Gujarat University.
He has previously worked with BSE Ltd in the following departments.
a) Membership Compliance – Mumbai HO
b) Trading Operations – Mumbai HO
c) Department of Investor Services- Ahmedabad RO
Shri Nikhil Mehta is associated with India INX since November, 2017.
Dr. S.K. Nanda
Dr. S.K. Nanda (IAS), holds a Ph.D. on Rural Economics, LL.B and LL.M from Gujarat University, and Master's degree in Political Science from Delhi University.
He is a recipient of “India CEO Award 2015”, Udhyog Ratna Award, Global Leadership Award, Global Visionary Award, Golden Peacock Award and Environment Protection Award. He also has been honored by UNESCO, Subash Chandra Bose award for Communal harmony and public service.
He has around 35 years of experience at senior levels in the various important Government departments as the Additional Chief Secretary of Home, Principal Secretary of Food & Civil supply, Forest & Environment, Health and as Managing Director of Gujarat State Financial Corporation, Chairman & Managing Director of the Gujarat State Fertilizer and Chemicals Ltd.
Present Assignments of Dr. Sudip Kumar Nanda are as under:
Advisor, National Disaster Management Authority, India
National Chief Commissioner, Hindustan Scouts and Guides, India
Chairman, Society for Village Development in Petro Chemical Areas (SVADES), Vadodara
Chairman Mumbai Management and Research, Mumbai.
Chairman, Jaganath Cultural Academy and Research Centre, Gujarat
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