Board of NPS Trust
The Trust is managed by a Board of Trustees appointed by PFRDA (settler of NPS Trust) from time to time. One of the Trustees from the Board is designated by PFRDA as Chairperson of the Board. PFRDA appoints a suitable person as Chief Executive Officer of the Trust (CEO) who shall be responsible for day to day administration and Management of the Trust subject to the superintendence, control and direction of the Board of NPS Trust. PFRDA has appointed Shri Kamal Chaudhry as Chief Executive Officer of NPS Trust from 1st August, 2014.The Board shall meet once every three calendar months.
The current Board of Trustees of NPS Trust consists of the following Five Members:
1. Sh. Shailesh V. Haribhakti - Chairman & Trustee
Sh. Shailesh V. Haribhakti has been appointed as Trustee of the NPS Trust from 12th November, 2012 for a period of two years. His term as Trustee of the NPS Trust has been extended for a further period of two years w.e.f. 12th November 2014. Sh. Shailesh Haribhakti has been designated as the Chairman of the Board of NPS Trust with effect from 1st August, 2015. He is a Fellow Chartered Accountant and the Chairman of BDO Consulting Pvt. Ltd. Sh. Haribhakti is also the managing partner of Haribhakti& Co. He serves on the Board of over ten large Indian Companies and Chairs ten Audit Committee. He is closely associated with Auditing, Risk Advisory Services and Tax Services. Sh. Shailesh V. Haribhakti contributes towards forums like ASSOCHAM, CII and Indian Merchants’ Chamber by participating in the process of framing regulations and standards. He is a member of Future and Options Committee of NSE of India; member of Committee on Disclosures and Accounting Standards of SEBI and past member of Takeover panel of SEBI of India. He is also a member of Corporate Governance Committee of CII, member and past chairman, Corporate Governance Committee ASSOCHAM. He was also awarded “Distinguished Fellowship of IOD (Institute of Directors) Award -2009” presented by the Institute of Directors. He was also awarded the Best Non- Executive Independent Director-2007” award by the Asian Centre for Corporate Governance and IMC.
2. Smt. Pallavi S. Shroff - Trustee
Smt. Pallavi S. Shroff has been appointed as Trustee of the NPS Trust from 12th November, 2012 for a period of two years. Her term as Trustee of the NPS Trust has been extended for a further period of two years w.e.f. 12th November 2014. Smt. Pallavi S. Shroff has completed her Bachelor of Arts with Honors in Economics from the University of Delhi. She perused her MBA from Jamnalal Bajai Institute, University of Mumbai and subsequently a LLB from the Government Law College, University of Mumbai. Smt. Pallavi S. Shroff started her career as a litigating lawyer with Amarchand & Mangaldas & Suresh A Shroff & Co. in 1981. She leads the competition law practice at Shardul Amarchand Mangaldas & Co. She is highly regarded for her versatility as a litigator and her experience in different areas of law dealing with trade and competition. She has played a leading role in many cases. The magazine VERVE has placed her “on a list of India’s Power Women”. Smt. Pallavi S. Shroff expertise also extends on domestic and international arbitrations. She has also been actively associated with Competition Policy and Law in India. She has been recognized as one of the 10 Rising Stars amongst the most powerful women in India by business Today magazine in 2008: and one of the 25 Superwomen of India in 2008 by India Today. She was also awarded with the Leading Women Consultant Award at Women Leaders Conference 2010. Also she has recently been awarded as the Best Lawyer in Dispute resolution in Asia at the Euromoney Legal Media Group’s Asian Women in Business Law Awards as well as the Best Women Lawyer of the year 2012 at the Legal Era Law Awards 2011-12.
3. Sh. N. D. Gupta- Trustee
Sh. N. D. Gupta has been appointed as Trustee of the NPS Trust from 30th March 2015 for a period of three years. He is an educationist, administrator and practicing Chartered Accountant. He is an alumnus of prestigious educational institutions and has passed all his examinations with distinction. Sh. N.D. Gupta has authored many International Publications, and contributed many papers and research articles at National and International forums. He has been involved in providing, auditing, taxation & financial consultancy services to some of the top institutions of India like RBI, SBI, NTPC, Local self-governments, Municipal bodies and is on the board of many public companies as Independent director. He served as the Chairman of the Group to identify gaps in compliance of Accounting Standards by Nationalized Banks constituted by the Reserve Bank of India. He also served as the President of Institute of Chartered Accountants of India (ICAI). He has been also the Board Member of International Accounting Standards Committee (IASC), U.K and International Federation of Accountants (IFAC), USA. He authored many books and articles on Insurance, Accounting and Management and also has been the Editor-in-Chief of the ICAI’s journal, “The Chartered Accountant”. He has also been Paper Writer and Key Note Speaker in various National and International Meets.
4. Sh. Ashvin Parekh – Trustee
Sh. Ashvin Parekh has been appointed as Trustee of the NPS Trust from 30th March 2015 for a period of three years. He has retired as a Senior Partner from Ernst & Young in June 2013. He is now associated with Ernst & Young as a Senior Expert – Advisor. He also served Deloitte Touche Tohmatsu India Pvt. Ltd. as Executive Director. He also held senior positions in Arthur Anderson, Price Waterhouse Coopers, KPMG India, KPMG UK, KPMG Dubai and Hindustan Lever Ltd. He has worked in the United Kingdom, Dubai, Australia, Germany and the US on Partner secondment programs for about 11 years outside of India. He has done more than 700 projects in the course of 33 years with the large firms. In banking he has assisted many large banks in India in the areas of Business Strategy, Operational Strategy, Capital Management, Risk Management (Basel 3 and ICCAP) and Performance review areas. He is registered with the World Bank and the Asian Development Bank as an expert in the financial services sector. In 1992 he was involved with a formation of 4 new banks. In 2012, when fresh guidelines on universal banking were issued, he was associated with 8 applications out of 25. He has been working closely with the government. In the last 5 years he has been on 9 committees set up by the Finance Minister / Ministry of Finance. He has been assisting all the regulators in the finance sector namely the banking, insurance, pension and capital markets with new reforms. In 1999 – 2000 during the reforms in the insurance sector he was closely involved with the government and the regulator in the formation of the regulatory authority and also assisted the regulators office in preparing the regulations for the sector.
5. Sh. Atanu Sen - Trustee
Shri Atanu Sen has been appointed as Trustee to the Board of NPS Trust with effect from 12th June 2017 for a period of three years. Sh. Atanu Sen did his MA in Economics from Calcutta University and is a qualified Chartered Associate of Indian Institute of Banker (CAIIB). Shri Atanu Sen carries wide experience in financial arena, by virtue of his 35 years long stint with State Bank of India. From September 1977 to August 2012, he held various management roles with State Bank of India. He was the Chief General Manager of Mumbai Circle, which comprised of 1200 branches and was the largest region of the Bank businesswise. He was also General Manager of North East Circle, where he provided innovative solutions for financial inclusion for the under privileged and under banked. It ushered in a new paradigm in financial inclusion by using biometric near field communication technology, which is a key intervention towards financial inclusion in the current scenario, in villages in Mizoram, Meghalaya and Assam. He was also in-charge of the Trade Finance and Credit vertical of the Banks Fankfurt office, which had the largest trade folio of the Bank across all geographies during the period. He has expertise in varied fields of Banking including High Value Credit, Infrastructure Financing, International Banking, Risk Management, Banking Operations and Administration.
During the period 2012-2014, he was the Managing Director & Chief Executive Officer of SBI Life Insurance Company Limited. During his tenure with SBI Life Life Insurance Company Ltd., the company was adjudged as ‘the best company in the financial services sector in India’ by The Jamnalal Bajaj Quality Assurance, ‘the best company in Asia and Pacific’ by the Asia Pacific Quality Assurance and ‘the best Insurance Company to promote financial inclusion’ by SKOCH India. Economic Times considered SBI Life as ‘one of the top 50 great places to work with in India’, when Sh. Atanu Sen was at its helm. After super-annuation from State Bank of India, he was an advisor to SBI in the areas of credit, risk management and cross selling till 31st July 2015. Currently, he is working as a consultant and serving as Independent/ Nominee Director in Bank/ diverse companies.