M. Damodaran

Former Chairman of the Securities & Exchange Board of India


A business executive, thought leader and former government official, Meleveetil Damodaran is presently the Advisor and Chief Representative in India for the ING Group of Netherlands.

He also served as the Chairman of India's Securities and Exchange Board (SEBI), India's financial markets regulator, from 2005 to 2008. Before this, he served as Head of IDBI, a development finance institution he converted into a bank.

He was also chairman of the Unit Trust of India, India's most prominent investment fund at the time, from 2001 to 2004. He is affiliated with the Manipur Tripura cadre, the administrative civil service of the Indian government. Damodaran also served as the Joint Secretary of the Banking Division of the Ministry of Finance of India for five years.

He started his career in Tripura, India, holding various development and regulatory positions. He was appointed Chief Secretary of Tripura in 1992, becoming the youngest person in India to attain a position of such significance in the state government.

Meleveetil Damodaran was appointed as the Chairman of Unit Trust of India (UTI) in 2001 to rescue India's largest and oldest investment institution, which had collapsed. He helped restore UTI to health, arguably the most successful turnaround story in Indian financial sector history. He was simultaneously given charge of the Industrial Development Bank of India (IDBI), another of India's major financial institutions.

Awards and Accomplishments

Awards and Accomplishments

His awards include the All India Management Association ‘Public Service Excellence Award’ (2009), the Economic Times Award for ‘Change Agent of the Year’ (2006-07), the ‘Finance Man of the Year’ (2004) and many others.

He received the ‘Lifetime Achievement Award’ in Ethical Governance from Asian Centre for Corporate Governance & Sustainability in 2015.

Why M. Damodaran ?

He is a regular speaker at forums and high-level panels. His areas of expertise include- Financial Management, Corporate Governance, Securities Markets, Public Administration and Leadership.

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