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. Manoj Joshi, Joint Secretary, Ministry of Finance
- Mr. Uday Kotak, Vice Chairman & Managing Director, Kotak Mahindra Bank Ltd.
- Ms. Chanda Kochhar, Managing Director & Chief Executive Officer, ICICI Bank
- Mr. Y. M. Deosthalee , Chairman and Managing Director, L & T Finance Holdings Ltd.
- Prof. Ashish Nanda ,Director , Indian Institute of Management (IIM), Ahmedabad
- Mr. Sanjay Nayar , Chief Executive Officer, KKR India Advisors Pvt. Ltd.
- Mr. Sandip Ghose, Director - NISM