NSE Denies Reports of Siddharth Kotak’s Appointment as AI Promotion Chairman

In a recent statement, the National Stock Exchange (NSE) of India officially refuted circulating media claims regarding the appointment of Siddharth Kotak as the AI Promotion Chairman.

According to the exchange, the reports were “entirely baseless” and issued without any official authorization.

The NSE clarified that no individual by the name of Siddharth Kotak had been appointed to any such role. The statement emphasized that the news was fake and misleading, urging stakeholders, investors, and the public to disregard the false information and verify news through authentic sources.

While the rumors about Kotak’s appointment were denied, the NSE reiterated its commitment to innovation and technology. The exchange has been actively working on a new advanced AI-driven trading system.

This system is designed to incorporate cutting-edge algorithms and real-time data analytics, ultimately helping investors make more informed decisions, reduce trading risks, and attract more global investments into India’s stock markets.

The AI trading system is expected to be rolled out over the next two years across major trading venues in India. Additionally, the NSE has plans to launch educational programs aimed at retail investors to help them understand the benefits of AI technology in trading.

India’s financial sector has been increasing its investment in technologies such as AI and blockchain as part of its ongoing digitization efforts.

Experts believe that the use of AI trading will not only enhance the global competitiveness of India’s capital markets but also drive broader economic growth.

Alongside its focus on technological innovation, the NSE announced significant growth in its investor base. The number of unique investors on the exchange recently surpassed the 11-crore mark, with the total client accounts now exceeding 21 crores.

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This surge in stock market participation represents a major milestone, with investor registrations increasing 3.6 times over the last five years.

Historically, it took the NSE 14 years to reach 1 crore investors after its launch in 1994. However, this latest growth signals a more rapid and widespread engagement with the Indian stock market, driven by technological advancements and a more digitally-savvy investor population.