The former head of India’s National Stock Exchange (NSE), the country’s largest, shared confidential information with her yoga guru for years, seeking his advice when making performance decisions, a probe by India’s market regulator the Securities and Exchange Board of India (SEBI) has found.
The regulator broke the news on Sunday, ahead of NSE’s public listing expected later this year. The matter regarding the yogi adviser surfaced during SEBI’s probe of the exchange following allegations that officials had provided some traders with unfair access through colocation servers.
After a three-year investigation, in 2019 SEBI fined the NSE over $90 million for violating contract rules and banned it from raising money on securities markets for six months.
During the investigation, however, SEBI also found that the NSE’s former CEO Chitra Ramkrishna, who quit the exchange in 2016 citing “personal reasons,” shared insider information in emails to an unknown person in the Himalayas. When questioned on the matter, Ramkrishna said the person was a “spiritual force” she consulted for some 20 years. The regulator stated that it was “absurd” for Ramkrishna to share the NSE’s sensitive information with an outsider.
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