The Board of Governors for NISM consists of the following members:

• Mr. U.K.Sinha, Chairman, SEBI (Chairman, Board of Governors)
• Mr. Rajeev Kumar Agarwal, Whole Time Member, SEBI
• Mr. Prashant Saran, Whole Time Member, SEBI
  
• Mr. Anup Wadhawan, Joint Secretary (Capital Markets), Department of Economic Affairs, Ministry of Finance, New Delhi
  
• Mr. P.K.Nagpal, Executive Director - SEBI
  
• Mr. Uday Kotak, Vice Chairman & Managing Director, Kotak Mahindra Bank Ltd.
• Ms. Chanda Kochhar, Managing Director & Chief Executive Officer, ICICI Bank
• Mr. R. M. Malla, Chairman & Managing Director, IDBI Bank Ltd.
• Dr. Anil Khandelwal, Former Chairman of Bank of Baroda
• Mr. M.S.Sahoo, Secretary, The Institute of Company Secretaries of India
• Mr. Sandip Ghose, Director - NISM