05-03-2022 | 16:43 PM
First woman chairperson of SEBI appointed
Madhabi Puri Buch has become the first woman Chairperson of the market regulator SEBI (Securities and Exchange Board of India).
She will also be the first person from the private sector and the youngest SEBI Chairperson so far.
She will replace Ajay Tyagi, a 1984 batch IAS officer of the Himachal Pradesh cadre.
SEBI chairman is appointed for a maximum period of five years or till 65 years, whichever is earlier.
Candidates are shortlisted by Financial Sector Regulatory Appointments Search Committee (FSRASC), which is headed by Cabinet Secretary.
FSRASC was set up to “recommend suitable persons for Chairperson, Whole Time members, and Part-Time Members of the financial sector regulators.”
It was set up with the objective of adopting a uniform selection process for all financial sector regulators.
About SEBI
The Securities and Exchange Board of India is the regulatory body for the securities and the commodity market in India.
It is under the ownership of the Ministry of Finance and was established on April 12, 1988.
SEBI was given the Statutory Powers on January 30, 1992, through SEBI Act, 1992.