The Ministry of Finance has invited applications for the post of Chairperson of the Securities and Exchange Board of India (SEBI). The current SEBI Chairperson, Madhabi Puri Buch, will complete her tenure on February 28, 2025. Eligible candidates must submit their applications by February 17, according to a notice from the Department of Economic Affairs.
The new SEBI chief has been appointed for five years or till the attainment of 65 years of age, whichever is earlier. Afterwards, it comes up with consolidated monthly salary or a pay scale equivalent to the Secretary, Government of India amounting to Rs 5,62,500 month.
Madhabi Puri Buch, the SEBI Chairperson, who is its first woman chairperson, took over office on March 2, 2022. She was a whole-time member in SEBI for five years.
While her term saw some key regulatory reforms, controversies were not an exception either. There were charges of investments related to the Adani Group and issues concerning the workplace environment, which ultimately got cleared. The tenure of SEBI chairmen is three years. However, earlier chairmen like U.K. Sinha and Ajay Tyagi got six- and five-year tenures, respectively.
The appointment of the new SEBI chair will come during a critical period when the markets regulator is continuing to play an important role in the financial ecosystem of India.
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Source: Moneycontrol
News Desk
