Dr R H Patil, chairman, Clearing Corporation of India (CCIL) and founder-managing director of the National Stock Exchange (NSE) passed away in Mumbai, on Thursday evening. He was battling with lung cancer for more than three years. He was 74.
We had written an article Dr.R H Patil the moving force behind the success of NSE earlier.
In a career spanning for almost half-a-decade, Patil had many firsts. When he started NSE in the mid-1990s, it was the first exchange to start trading stocks online. He was also founder of the National Securities Depository Limited and CCIL.
Dr R.H. Patil, is 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 is the moving force behind the success of National Stock Exchange who, unknown to many, repeated his success in the government securities market.