Mumbai (Maharashtra) [India], May 11 (ANI): The National Stock Exchange (NSE), the country's largest stock exchange, has said its current CEOMD Vikram Limaye is not involved in the selection process of his successor.

"Vikram Limaye recused himself from the very beginning and was not involved in any way in the discussions surrounding candidates or at any stage in the process of selection of new MDCEO," the NSE said in a tweet on Tuesday night.

The five-year term of Limaye as chief executive officer and managing director of the NSE ends on July 16. Limaye joined as top executive of the NSE in July 2017 after Chitra Ramkrishna resigned from the position without completing her term.

Though Limaye is eligible for another five-year term, he has opted out. "I have informed the board that I am not interested in pursuing a second term and will therefore not be applying and participating in the process that is underway. My tenor ends on July 16, 2022," Limaye had said in a statement in March.

In March 2022, NSE invited applications for the post of MDCEO.

According to sources, the NSE has shortlisted candidates and submitted the names to the Securities and Exchange Board of India (SEBI) for approval. (ANI)