Ajay Thakur, the architect of the Bombay Stock Exchange for Small and Medium Enterprises (BSE SME) Platform, has stepped down after a decade of service. Thakur played a key role in launching both the SME Exchange and Startup Platform in India (2012 and 2018 respectively)
After joining BSE in 1996 as the Head of Arbitration, Thakur played an important role in the development of the arbitration-related bye laws and regulations that complied with the 1996 Arbitration and Conciliation Act.
Additionally, Thakur was important in the establishment of the Arbitration Committee, which consisted of reputable, independent individuals.
He had also established the BSE equity and derivatives markets, which together account for around 27% of the market. BSE Sensex Futures was the primary source of volume in the BSE Derivatives Market. Furthermore, he set up regional offices across the country.
Last year, Thakur received a Lifetime Achievement Award by Amit Mohan, Additional Chief Secretary (MSME), Uttar Pradesh government, in recognition of his work in reforming the MSME sector.