Dr R.H. Patil, was a sharp, honest and extremely low-profile, and could harness the best ideas from a young and dedicated team and push for appropriate regulation to implement them. He was a rare individual who turned down the offer to be Chairman of the Securities and Exchange Board of India (Sebi), although the government was willing to change the rule to give him a term beyond 62 years. Dr RH Patil was the moving force behind the success of National Stock Exchange who, unknown to many, repeated his success in the government securities market.
Dr. R H Patil was born in a small village called Nandgad, about 32 kms from Belgaum (Khanapur Taluk). His father was a landlord. He completed his matriculation from the Mahatma Gandhi High school Nandgad and then went to study at Karnataka College in Dharwad between 1955 and 1957. He then got bored with Dharwad and shifted to Pune’s Fergusson College. He had scored well in SSC. Everybody said he should go in for medicine or engineering, but he wanted to be different. He thought medicine meant cutting bodies and, being a vegetarian, that didn’t appeal. Engineering meant working in a factory or field sites he didn’t want that either. At the pre-graduate level, he opted for economics, which he liked very much and chose sociology as his second subject. After graduating, he wanted to join the best school in economics, which was the Bombay School of Economics those days. That is how he landed in Mumbai.
Dr. R. H. Patil was Chairman of Clearing Corporation of India Ltd. and was ex-Managing Director of the National Stock Exchange of India Ltd. (NSE).Dr. Patil has been associated closely, during his career, with the financial sector in various capacities, particularly with the Capital Market. He has also been associated with various Expert Committees including High Powered Committee on Stock Exchange Reforms, Committee on Secondary Market for Debentures and Committee on Trading in PSU Bonds and Units of Mutual Funds. He has been associated with establishment of National Stock Exchange of India Ltd. (NSE), Stock Holding Corporation of India Ltd. (SHCIL) and Credit Analysis and Research Ltd. (CARE). Currently, he was also Chairman of Disinvestment Commission and Local Advisory Board of BNP-Paribas and Director on the Board of 7 companies, including National Stock Exchange of India Ltd. (NSE), National Securities Clearing Corporation Ltd. (NSCCL), National Securities Depository Ltd. (NSDL) and Credit Analysis and Research Ltd. (CARE). He has worked with Faculty of Post-Graduate Dept. of Economics, University of Mumbai, Reserve Bank of India, Economic Dept. and Industrial Development Bank of India (IDBI) as Sr. Executive Director in charge of Loan Operations and Treasury functions.
That is the kind of person Dr Patil was – unassuming but fiercely competitive; intensely focused on the cause of the institution he works for; remarkably entrepreneurial but totally ethical; an institution-builder but only of the public-service variety. He belongs to a rare category – serial institutional-entrepreneur.
Dr.Patil was a true example of what one can achieve in life. Coming from a small village of Nandgad to setting up of NSE he dreamt big and hence achieved his goals in life. He was simple down to earth person in life. We still wonder why he hasn’t been awarded the Padma awards still. A selfless person dedicated to work all time around.
Team AAB salutes Dr.R H Patil and his vision of NSE which has transformed securities trading in the country.
He passed away in 2012 at the age of 74.