NSE Chief warns of AI cyber threats, flags quantum risk as Indian markets hit ₹460 lakh crore
NSE Managing Director and CEO Ashish Kumar Chauhan warns of emerging threats from quantum computing that could compromise current cryptographic frameworks, including SSL protocols
National Stock Exchange (NSE) Chief Ashish Kumar Chauhan warned of urgent cybersecurity threats from AI-based attacks on brokers, emphasizing India's market capitalisation, now exceeding ₹460 lakh crore, surpasses the combined assets of the entire Indian banking system. Chauhan addressed ANMI's 16th Annual Capital Market Convention, urging the establishment of a dedicated task force to bolster cyber resilience among member brokers.
He cautioned of potential risks from quantum computing, which may undermine current cryptographic standards such as SSL protocols, likening technology to "riding a tiger." NSE's market presence covers over 99% of India's PIN codes, serving 37 crore registered investor accounts and representing 19.3% of NSE-listed market capitalisation through individual investors, reflecting a remarkable annual growth rate of 31% since 2020.
Maharashtra leads with over two crore registered investors. The market capitalisation has seen a 17% compound annual growth rate (CAGR) over three decades, rising from ₹4 lakh crore in 1994. NSE has expanded its offerings beyond equities, delving into derivatives markets, commodities, electricity derivatives, and Electronic Gold Receipts.
The upcoming Corporate Bond Index Futures have received regulatory approval. Chauhan commended SEBI Chairman Tuhin Kanta Pandey for regulatory reforms, including reducing the technical glitch framework's scope by 60%, extending reporting windows, and consolidating reporting onto a single platform. In FY26, NSE executed 17,800 investor awareness programs reaching 9.3 lakh participants, with a corpus of over ₹3,000 crore in the Investor Protection Fund and ₹13,500 crore in the Core Settlement Guarantee Fund as of September 2026.
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