Madhabi Puri Buch has been appointed as the Chairperson of the Securities and Exchange Board of India (SEBI). This is the first time a woman and a private sector person has been appointed to the top post of a market regulator.
Madhabi Puri Buch
Madhabi Puri Buch (Madhabi Puri Buch) to Securities and Exchange Board of India ,Sebi, has been appointed as the Chairperson of the This is the first time that a woman and a private sector person have been contacted by a market regulator. (Market Regulator) Appointed to the top post of This appointment is also different from the regular practice of hiring chairman members of SEBI, which is usually in the public sector. (Public Sector) Or there were men coming from the bureaucracy. Madhabi is the first woman to become the chairperson of SEBI. This is the first time that a person from the private sector has been selected for the important post of market regulator.
His appointment will be initially for 3 years. She was till now a whole time member of SEBI. Let us tell you that the tenure of the current chairman of SEBI Ajay Tyagi is ending on February 28.
Started career with ICICI Bank
The Department of Personnel and Training (DoPT) said in a notification that Buch was working as a whole-time member in SEBI till last year and was earlier serving at the New Development Bank in Shanghai. He was appointed for a period of three years.
Madhabi Puri Buch started her career with ICICI Bank and served as MD & CEO at ICICI Securities from February 2009 to May 2011. In 2011, she moved to Singapore, where she joined Greater Pacific Capital LLP. The stock market was waiting for a clear picture on whether SEBI will get a new chairman or will Ajay Tyagi, the current chief, get another extension.
Applications were sought in October
In October, the Finance Ministry had invited applications for the post of chairman of SEBI. And the submission deadline was fixed on 6 December. On February 22, Finance Minister Nirmala Sitharaman had said that shortlisting for the post is yet to take place. The government had extended the term to UK Sinha for three years. With this he became the second longest-serving SEBI chief after DR Mehta.
As per the process of appointment of regulators, applicants are shortlisted by the Financial Sector Regulatory Appointments Search Committee, which is headed by the Finance Secretary.