The government will look into whether SEBI took adequate action in the NSE scam

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MUMBAI: Former CEO of the country's largest stock exchange, the National Stock Exchange, Chitra Ramakrishna, has for the first time issued a statement on the exchange of confidential information about the exchange with a mysterious yogi.

The government is investigating whether market regulator SEBI has taken adequate action on corporate governance violations in the NSE, Finance Minister Nirmala Sitaram said. The Finance Minister's statement is significant as it is the first official comment from the central government since the NSE scam came to light.

He said the NSE scam was an example of "completely opaque, discretionary decision-making, out of the realm of law and governance".

The government will not tolerate or tolerate anyone's 'assumptions' about transparency and credibility in the exchange. The Chitra Ramakrishna case should not hurt the NSE and create illusions in the minds of investors. Credibility and confidence in the money market is the key to attracting investors.

Recently, the finance minister had a discussion with the stock market heads. It also suggested finding ways to strengthen the stock market and financial services sector.

The minister stressed that the government has no intention of weakening any institution. There is nothing that we can do to help them. Yet how did the NSE look different when things weren't really transparent?

The CBI and the Income Tax department are investigating the issue of giving crores of salary package to Chitra Ramakrishna and Yogi Baba and Anand Subramaniam in NSE.

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