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

• Mr.C.B.Bhave, Chairman, SEBI (Chairman, Board of Governors)
• Mr.M.S.Sahoo, Whole Time Member, SEBI
• Dr.K.M.Abraham, Whole Time Member, SEBI
• Dr.K.R.S.Murthy, Former Director, IIM Bangalore
• Dr. K. P. Krishnan, Secretary, Economic Advisory Council to the Prime Minister
• Mr.Y.C.Deveshwar, Chairman, ITC Ltd.
• Mr.M.B.N.Rao, Former Chairman & Managing Director, Canara bank
• Mr.Pratip Kar, Member Advisory Council & Consultant, Global Corporate Governance Forum, International Finance Corporation
• Dr.Mohan Gopal, Director, NJA, Bhopal
• Mr.Rafiq Dada, Senior Advocate
• Shri P. K. Nagpal, ED, SEBI
• Prof.G.Sethu (In-Charge, NISM)