Before 20 years only some peoples were the drivers of market (generally gujjus and marwadis). Today total indians are driving that. u r the real maharashtrian
Dr. Patil has done a brilliant and outstanding job of transforming the face of Indian equity market. The fact that we have one of the best equity market in the world in terms of infrastructure as well as trading and settlement systems is a tribute to the vision and execution skills of Dr. Patil.
A lesser known but equally significant achievement of Dr.Patil is his contribution to transformation of the Indian debt market. The setting up of CCIL and NDS Order Matching System have revolutionized the trading in the Government Securities market. He proved all the doomsdayers and vested interests wrong by successfully introducing a screen based trading in the gilts market and eliminating the stranglehold of brokers. He has also made substantial contribtuion to the development of foreign exchange markets through CCIL.
Dr. Patil's contribution to the development and growth of Indian financial sector are immense and marvellous. His dazzling achievements have the done the nation proud. India should recognize and respect Dr. Patil's contributions by honoring him with a Bharat Ratna.
Retail investor participation in stock markets have been minimal, moreover for trading and investment they had to trust and depend on brokers. However today, they have things under their control. Though brokers provide the platform, investors have the power today to choose what, when, where and how they want to transact. Definitely as more people get better education, jobs and quality of life, they would be allocating some money toward equity investing, which would grow the markets on a broad based manner. Online trading has also benefited institutions and brokers in simplifying their processes, which is well known, but enabling greater participation from retail segment is a welcome move.
Kudos toMr Patil for setting up NSE and go far ahead.
But one thing is the that,It was supported by Regulator (SEBI) and BSE was dragged down the regulator.
In certain cases the regulatee has regulated the regulator.
As myself worked with BSE,certain facts are unknown to people.
Cheers to NSE no doubt,But Still been an ex employee of BSE,I am fan of BSE.
The main fact is that NSE Got permission from the regulator to expand it's VSAT Connectivity across the Country while BSE was only allowed within the Municpal Limits of Mumbai, and later BSE was also given permission.,in Tis way NSE had expanded it's reach and had the First Mover Advantage,BSE lagged,NEAT had spread across the country but BOLT was laaging behind.
The main objective to set up NSE was to give competition to BSE,as it was the sole leader at that point of time,Now NSE was grown leaps and Bounds and is the sole leader.
BSE got BAd name and media exposed it,Bad things also Happen at NSE but those are not exposed by Media.
But Still SENSEX is a strong Brand and does not require Branding ,while NSE has been branding NIFTy since last few years.
One more thing is that BSE tied up with NDTV Profit to set up the Giant Screen on it's wall and NSE in the same way followed BSE and tied up with CNBC and set u a studio of CNBC in NSe complex.
People do not wrie off BSE,It is an old player and will bounce back.
RE:Kudos
by Rajendra Mundhe on Nov 23, 2007 03:39 PM Permalink
dear yogesh , being an employee of BSE you also added good stuff in reply. It removed lot of my confusion bet BSE & NSE.
Thnks to rediff, becuase no body know the person behind the success in the NSE. Mr. Patil is great & must be included in the list of awards given the government to great personality like Metro's Shreedharan, Amul's Mr. Curian etc
Thanks to Rediffmail for making this article public and WE AS A CITIZEN, MUST THANKS TO HIM FOR GREAT JOB HE DID TO WHOLE GENIUNE EQUITY MARKET INVESTORS. WQe need more Patil at many Govt. spheres.
