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Former NSE head Chitra Ramkrishna earned Rs 23 cr during her 8-month stint

Press Trust of India/New Delhi 17 Jul 17 | 05:25 PM

Buildings are reflected on the glass windows of the NSE (National Stock Exchange) building in Mumbai (Photo: Reuters)

Chitra Ramkrishna, who has been replaced by Vikram Limaye as chief of NSE, had drawn about Rs 23 crore as total remuneration for the last eight months of her tenure, as per the exchange's annual report.

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The remuneration for the April-November period of last financial year that she served at NSE was 3-fold more than Rs 7.87 crore she had earned in the entire 2015-16.

Ramkrishna, who was with the NSE since its inception in 1992, had quit as the Managing Director and CEO of the country's premier bourse on December 2 last year.

The National Stock Exchange (NSE), which is preparing for the nearly Rs 10,000 crore initial public offer, had paid her remuneration of Rs 22.98 crore. This included variable pay, leave encashment, leave travel allowance, medical allowance, and gratuity.

However, the pay package "excluded 50 per cent of the variable pay of Rs 1.58 crore to be paid on deferred basis after three years".

Limaye, who joined NSE from Monday, would get a pay package of Rs 8 crore, sources said.

"The Board placed on record her (Ramkrishna) sterling contribution to the growth of the Organisation over the long years that she had been associated with it," NSE said.

Ramkrishna was among the few women leaders at the helm of leading stock exchanges around the world. She was part of the leadership team that helped set up the NSE in the early 90s and was only the third person to head the bourse in its entire history of about two decades.

She succeeded Ravi Narain as the head of NSE, who also served in various leadership roles at the exchange since its inception.

Narain had served as Deputy Managing Director of NSE in its first six years and as MD and CEO thereafter. Narain had succeeded R H Patil, who was the first chief of NSE.

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