Mar 10, 2022 | Posted by MadalineDunn
The National Stock Exchange of India (NSE) has announced plans to relocate its primary data center out of its Mumbai headquarters at the Bandra Kurla. This announcement comes following allegations that the NSE's former head was embroiled in a colocation scam that began in 2015, and ended with two executives resigning in 2016. There is also an investigation being conducted into officials in the NSW, allowing brokers preferential access in its facility.
According to NSE's managing director and chief executive officer Vikram Limaye, its primary data center will be moved to the outskirts of Mumbai, and is this move is expected to be completed by the end of the year, costing ₹1,000 crore ($130 million).
There are other controversies that the NSE have been at the center of in recent years. The main colocation scam involves former NSE CEO Chitra Ramkrishna allegedly sharing confidential market information with an individual she believed to be a "Himalayan yogi," for which she was arrested by India's Central Bureau of Investigation (CBI). Anand Subramanian, a former NSE group operating officer, was also arrested.
