NSDL Appoints Subhash Kelkar as Executive Director, Critical Operations & Board Member

National Securities Depository Limited (NSDL) has appointed Subhash Kelkar as Executive Director – Critical Operations and Board Member, reinforcing its leadership team as the organization continues to strengthen India’s financial market infrastructure.

In his expanded role, Kelkar will oversee NSDL’s critical operational functions while contributing to the company’s strategic direction as a member of the Board. His appointment reflects NSDL’s continued focus on operational excellence, governance, innovation, and the resilience of India’s securities depository ecosystem.

Kelkar brings more than three decades of experience in the financial services and capital markets sector. Throughout his tenure at NSDL, he has played a significant role in strengthening depository operations, driving technology-led transformation, enhancing operational risk management, and supporting the modernization of India’s securities market infrastructure.

As Executive Director, he will be responsible for ensuring the seamless functioning of mission-critical operations, improving operational efficiency, and supporting NSDL’s long-term growth strategy while maintaining the highest standards of security, compliance, and investor confidence.

His elevation comes at a time when India’s capital markets are witnessing rapid digital adoption, increasing investor participation, and greater emphasis on secure, technology-driven financial infrastructure. With his extensive institutional knowledge and leadership experience, Kelkar is expected to play a key role in guiding NSDL’s next phase of growth and innovation.

The appointment further reinforces NSDL’s commitment to building a resilient, future-ready depository ecosystem that continues to support the evolving needs of investors, market participants, and the broader financial services industry.