PR in the Philippines

Mumbai, Maharashtra, August 4, 2025 – The National Commodity & Derivatives Exchange Ltd (NCDEX), a leading commodities exchange in India, has announced the appointment of Mr. Balkrishna Shankwalker as its new Chief Technology Officer (CTO), effective July 21, 2025. Mr. Shankwalker, a highly experienced technology leader with over 25 years in infrastructure development, IT Operations, and business transformation within regulated industries, brings significant strategic insight and execution capabilities to NCDEX as it continues to evolve.

In his new capacity, Mr. Shankwalker will be in charge of the exchange’s Technology department, overseeing key areas such as Infra Operations & Tech Procurement, Software Engineering, the Business Solutions Group, and the Technology Command Center. His responsibilities include enhancing NCDEX’s technology infrastructure, improving platform reliability, and introducing market-driven innovations that are in line with regulatory requirements and user expectations.

Mr. Arun Raste, MD & CEO of NCDEX, commented on the appointment: “We are thrilled to welcome Mr. Balkrishna Shankwalker to NCDEX. His extensive experience in modernizing platforms, along with his strategic vision and practical leadership, will be crucial as we speed up our digital transformation. As NCDEX expands into new areas and strengthens our technological foundation, Mr. Shankwalker’s leadership will be essential in providing flexible, robust, and dependable market infrastructure.”

Mr. Shankwalker stated, “I am excited to join NCDEX at this critical point in its development. The combination of agricultural markets, regulatory changes, and digital empowerment offers a unique chance to transform market access, inclusion, and efficiency. I am eager to work with the leadership, technology teams, and ecosystem partners to develop future-proof systems that provide excellent service to farmers, FPOs, investors, and regulators.”

Prior to joining NCDEX, Mr. Shankwalker was with National Securities Depository Limited (NSDL), where he spearheaded significant transformation projects, including the transition to a New Depository System, Mobile Applications, Private Cloud implementation, and microservices-based architecture. He also served as the Incident Manager and Change Manager, ensuring continuous business operations in a highly regulated environment. Earlier in his career, he held important technology positions at Protean (formerly NSDL e-Gov), where he helped build the fundamental technology infrastructure for national programs such as Tax Account Number (TAN), Permanent Account Number (PAN), and the Income Tax e-filing platform—efforts that have shaped India’s digital governance landscape.

An alumnus of ITM Business School (2000), Khargar, Navi Mumbai, and a graduate in engineering from KLE Engineering College, Karnataka (1997), he enjoys music, travel, and mentoring tech professionals who are driving innovation.