India's federal police arrested a former senior official at the country's largest stock exchange, a police source said on Friday, as part of an investigation into alleged corporate governance lapses at the bourse.

Anand Subramanian, a former top adviser to the National Stock Exchange's (NSE) former CEO Chitra Ramkrishna, was arrested by the Central Bureau of Investigation (CBI) in connection with a 2018 case involving allegations the bourse provided some high-frequency traders unfair access to speed up algorithmic trading, the source said.

(Reporting by Aditya Kalra and Abhirup Roy; Editing by Muralikumar Anantharaman)