Rajnikant Patel BSE and his contributions towards society

Armed with a degree in law from the Hinduja College of Law, Rajnikant Patel had very modest beginnings in life. A simple job as a clerk in Bank of Maharashtra was his first initiation into the world of finance. If someone had said that this young boy would one day revolutionize the Indian stock market, people would have scoffed at it. However, this young lad had the requisite talent to succeed at the big stage.

Having realized that this is the career for him, Rajnikant Patel joined State Bank of Saurashtra as an officer in charge of loan disbursal. He found this job very monotonous in nature. He resigned from this job after a year to take up a lucrative assignment in the Reserve Bank of India. He learned the nuances of banking and finance during this 13-year stint at the apex bank of the country. He became an authority in the field of Bank Branch Licensing, clearing and open market operations, etc. He rose to the position of an Assistant General Manager of the bank before resigning in 1997.

The next four years saw him shine in the auditing field as the Deputy Head of Inspection and Audit at BNP Paribas. He became a master in the field of Risk Management, Internal Audit procedures, O & M process validation, etc. He placed great emphasis on adhering to regulatory control.

The period from 2001 to 2008 marked the golden period in his life. He joined the Bombay Stock Exchange and became its Managing Director and CEO. He initiated many innovative techniques with special emphasis on automation and use of information technology. The BSE witnessed several important changes during his stint at the helm of the affairs of the organization. We can list out some of the notable features as below.

Rajnikant Patel was responsible for the conversion of the BSE into a Limited Company.  This was the first such stock exchange company to do so in India. He maintained an excellent rapport with the regulatory agencies such as SEBI and the Finance Ministry. His stint with the RBI was responsible for adhering to such regulatory compliances.

Placing great emphasis on the use of information technology, he introduced the Real Time Online Surveillance System in BSE thereby ensuring transparency in the dealings in shares, stocks, and other commodities. This is a tremendous contribution towards securing the finances of billions of Indian and foreign investors in various companies all over India. This was a revolutionary change in the functioning of the BSE. By bringing about this monumental change, he has repaid his debts towards society. His stories do not end here. These exploits earned him the name Rajnikant Patel BSE and rightly so.