SBI Securities appoints Ayaskant Mohapatra as CTO to drive digital overhaul

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In his new role, Mohapatra is expected to lead efforts around building scalable systems, strengthening cybersecurity, and improving customer-facing digital platforms

By BL Mumbai Bureau

Updated - October 22, 2026 at 09:23 PM.

SBICAP Securities Limited, a full-service brokerage firm under the State Bank of India group, on Thursday named Ayaskant Mohapatra as its Chief Technology Officer, signalling a push to accelerate its digital transformation and technology infrastructure.

Mohapatra brings 25 years of enterprise technology experience to the role. He previously held senior positions at BOBCARD, YES Securities, Axis Securities, and HSBC InvestDirect, giving him a broad grounding in financial services technology across banking and broking.

In his new role, Mohapatra is expected to lead efforts around building scalable systems, strengthening cybersecurity, and improving customer-facing digital platforms. The appointment comes as brokerages across India face rising pressure to upgrade technology amid growing retail investor participation and regulatory demands for more robust digital infrastructure.

Baldev Prakash, Managing Director and CEO of SBICAP Securities, said Mohapatra’s experience in enterprise technology and understanding of the financial services sector would be an asset as the firm works to strengthen its technology backbone and support its next growth phase.

Mohapatra said he aims to harness emerging technologies to improve operational efficiency and customer experience, while building what he described as a future-ready technology ecosystem.

SBICAP Securities is a subsidiary of SBI Capital Markets, itself a wholly owned subsidiary of State Bank of India, one of the country’s largest public sector lenders.

Published on October 22, 2026

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