In an interview to CNBC-TV18's Anuj Singhal and Surabhi Upadhyay, Ravi Varanasi of NSE clarifies about the technical glitch.
Ravi Varanasi, Chief of Business Development at National Stock Exchange has thrown his hat in the fray for the top job in his organization, sources told Moneycontrol. Varanasi has been with the exchange for nearly 22 years and is said to be close to Ravi Narain, who served as Managing Director & CEO between 2001 and 2013.
Encouraging small and medium enterprises (SMEs) to list on its platform, NSE has said listing will help such companies raise capital for their growth and provide visibility.
The regulator is trying its best to create a conducive climate for start-ups and ensure that they raise money domestically through markets rather than from overseas markets.
In a sign of growing retail interest in exchange-traded funds (ETFs), daily average trading value in such securities on NSE has surged to about Rs 70 crore from less than Rs 1 crore over the past 10 years.
Keep funds ready for upcoming OFS issues: NSE to investorsBuoyed by retail participation in recent Coal India divestment programme through OFS, country's leading bourse NSE today said brokerages and investors need to keep adequate funds ready to buy shares in such issues as they are announced in a short notice.
"The secondary market is vibrant with the Sensex touching the 27,000-mark in a span of seven months. But the primary market is muted so far with not so many public issues on the floor," Securities and Exchange Board of India (Sebi) Chief General Manager P K Bindlish said.
The NSE had organised a week-long investor awareness programme in the city to help people learn about the basics of the stock market, financial planning and safe investing, and to encourage them to participate in the country's capital markets.
Ravi Varanasi, Senior VP of NSE clarifies that it was not due to any technical glitch. Erroneous orders placed by the broker had resulted in the problem. He further informed that the NSE has disabled the member and the rest of the system has functioned normally.
Ravi Varanasi of NSE said this is an endeavour towards providing a cutting edge trading platform to its members at optimal cost. Moreover, this move will be particularly helpful for smaller members in unfavourable market conditions.