Fake Videos of NSE CEO Ashishkumar Chauhan! Stock exchange warns investors about investment advice

Stock exchange NSE said on Wednesday it observed the use of the face and voice of its managing director and CEO Ashishkumar Chauhan, as well as the use of the NSE logo in some investment and advisory audio and video clips that were erroneously created using technology. According to NSE, such videos appear to have been created using sophisticated technologies to mimic Chauhan's voice and facial expressions.

NSE warned investors not to believe in such audio and video content and “not to follow any such investment or other advice from such fake videos or other media.” It should be noted that NSE employees have no authority to recommend or deal in stocks. “said the stock exchange.

Chauhan holds a B-Tech in Mechanical Engineering from IITBombay and a PGDM from IIM-Kolkata. He was part of the founding team of the NSE, where he worked from 1992 to 2000. He played a key role in the development of the derivatives market, according to NSE, and Chauhan was involved in setting up the NSE's screen-based trading system, Commercial Satellite communications network and developing indices. From 2000 to 2009, he was President and Chief Information Officer of the Reliance Group with responsibility for corporate communications and was also CEO of the Mumbai Indians cricket team in the early years of the Indian Premier League.

Chauhan joined BSE as deputy CEO in 2009 and was appointed CEO in 2012. During his tenure, the BSE witnessed technological developments including reduction in response time, introduction of mobile trading and online real-time monitoring.

Chauhan was also instrumental in setting up the country's first international stock exchange – India International Exchange – in January 2017 at Gandhinagar, GIFT City. He oversaw the BSE's IPO in 2017, which was oversubscribed 51 times. In order to verify all official statements made by NSE, NSE said that investors are encouraged to verify the information provided by NSE or its officials on its website. NSE said it is making efforts to request these platforms to remove these objectionable videos wherever possible.

As per NSE's procedure, all official communication will be made only through the official website and social media channels of the exchange.

“Everyone is requested to verify the source of communications and content sent on behalf of NSE and check official social media handles. All investors are requested to take note and verify the information provided by NSE or its officials on its website www.nseindia.com as official information,” it said.