Question

The promoter of National Stock Exchange of India is
1. State Bank of India
2. LIC and GIC
3. IDBI
4. All the above

Answer 1

Correct Answer - Option 4 : All the above

The correct answer is All of the above.

• The promoter of the National Stock Exchange of India is the State Bank of India, LIC and GIC, and IDBI.
• National Stock Exchange of India Limited (NSE) is the leading government-owned stock exchange of India, located in Mumbai, Maharashtra.
• NSE was incorporated in 1992.
• It was recognized as a stock exchange by SEBI in April 1993 and commenced operations in 1994 with the launch of the wholesale debt market, followed shortly after by the launch of the cash market segment.

• State Bank of India (SBI) is the largest shareholder in NSE with a stake of 10.19%.
• Bank of Baroda, Indian Bank, Union Bank of India, Oriental Bank of Commerce, Punjab National Bank, Kotak Mahindra Bank Ltd, and ICICI Bank Ltd all own shares in the exchange, according to NSE filings with the Registrar of Companies.
• Shri Ashishkumar Chauhan is the MD & CEO of BSE (Bombay Stock Exchange), the first stock exchange of Asia.
• He is one of the founders of India's National Stock Exchange ("NSE") where he worked from 1992 to 2000.
• General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of GIBNA.
• It was incorporated on 22 November 1972 under the Companies Act, 1956 as a private company limited by shares.
• Life Insurance Company (LIC) was created on 1 September 1956 with the merger of more than 245 insurance companies and provident societies.
• It was formed under an act of the parliament viz. LIC Act, 1956 with an initial capital of Rs. 5 crores from the Government of India.
• Industrial Development Bank of India (IDBI) was constituted under the Industrial Development Bank of India Act, 1964 as a Development Financial Institution (DFI) and came into being on 1 July 1964, vide GoI notification dated 22 June 1964.