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SEBI Formed IT-PAC Headed by Dr Abhay Karandikar; Reconstituted Technical Advisory Committee Headed by Deepak B Phatak

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Sebi forms IT project advisory committee to provide technical expertiseSecurities and Exchange Board of India(SEBI) has formed the 7-member IT Projects Advisory Committee (IT-PAC) headed by Dr Abhay Karandikar, a director at the Indian Institute of Technology(IIT) Kanpur, to provide guidance to upgrade the existing IT systems of SEBI and the solutions with the latest IT practices, techniques, tools and technologies.


The members of the IT-PAC may also be nominated to the expert committee for dispute resolution in IT projects at SEBI.

Functions of the committee:

i.To advise SEBI projects aimed to utilise advanced technologies like artificial intelligence, machine learning, data analytics and cloud computing.

ii.As members of the Tender Evaluation Committee(TEC), this committee will provide technical expertise to Sebi in various stages of IT solution procurement and it will also provide technical insights on the implementation of the project, including user acceptance, final acceptance, and warranty initiation.

Members of the Panel:

  • S Ganesh Kumar former ED at RBI
  • Dr Sanjay Bahl, Director General at Indian Computer Emergency Response Team (ICERT)
  • Dr G Sivakumar, Professor at IIT Bombay
  • Dr Ankur Kulkarni, Associate Professor at IIT Bombay
  • Professor Joy Kuri, Department of Electronic System Engineering, Indian Institute of Science(IISc) Bangalore
  • Manindra Agarwal, Padma Shri Professor, IIT Kanpur

SEBI reconstituted its Technical Advisory Committee:

SEBI has reconstituted its Technical Advisory Committee which will recommend measures for changes and improvements in the market structure given the technological changes.

  • The reconstituted 7-member committee will be chaired by Deepak B Phatak, a former professor of IIT Bombay. Earlier the panel had only 5 members.

Functions of the committee:

i.The panel will assist SEBI in framing appropriate policies arising out of technological advancements in areas like wireless trading, algorithmic trading and smart order routing.

ii.The panel is also responsible for setting standards for a disaster recovery plan, business continuity plan, and system audit conducted by SEBI.

Other members:

  • Abhay Karandikar director at IIT Kanpur;
  • Padma Shri Manindra Agrawal, professor of IIT Kanpur;
  • D Janakiram, director at Institute for Development and Research in Banking Technology (IDRBT);
  • Timothy Gonsalves – Professor Emeritus (Hon) IIT Mandi;
  • Rajesh Doshi former Executive Director at National Securities Depositories Ltd (NSDL).
  • Debabrata Das, Director, International Institute of Information Technology Bangalore (IIIT Bangalore)

Recent Related News:

Securities and Exchange Board of India(SEBI) has reconstituted its Takeover Panel and appointed N Venkatram MD and CEO, Deloitte India as the new member of the Takeover Panel.

  • Takeover Panel looks into the applications that are seeking exemption from the mandatory open offer that an acquirer needs to make to minority shareholders.

About The Securities and Exchange Board of India(SEBI):

Chairman– Ajay Tyagi
Headquarters– Mumbai, Maharashtra
Established on 12th April 1992