SEBI approves appointment of Ashok Chawla as NSE chairman

The Securities and Exchange Board of India has approved the appointment of Ashok Chawla, the former head of the Competition Commission of India, as the new chairman of the National Stock Exchange (NSE), a spokesman at the bourse said on Friday.

Reuters reported last month that NSE, India's biggest exchange, had nominated Chawla as its new chairman after previous holder S.B. Mathur stepped down upon completing his tenure.

The appointment was pending the approval of SEBI, which regulates exchanges in India.