Sebi new chief selection: The Government of India has started the appointment process of the new chairperson of the Securities and Exchange Board of India (SEBI). The term of the current chairperson Madhavi Puri Buch ends on February 28, 2025. The Finance Ministry has sought applications from interested candidates till 17 February 2025. This appointment to the top position of India’s market regulator is considered very important.
New chairperson selection processes and conditions
The Department of Economic Affairs of the Finance Ministry has sought applications for this post through public advertisement. The selected candidate will be appointed for a maximum of five years, or by the age of 65, whichever is earlier. The monthly salary of SEBI chairperson will be Rs 5,62,500 (without home and car). The government has fixed some important qualifications for the application. The candidate should have a 25 -year professional experience in the field of law, finance, economics, or accounts. Also, there should be no doubt in the honesty and prestige of the candidate. Priority will be given to candidates above 50 years of age for this post.
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The role and importance of sebi chairperson
SEBI chairperson is the head of India’s Capital Market Regulator and this responsibility is very important. The chairperson has to ensure that he is not influenced by any type of financial or other interests, which can damage their decision. Financial Sector Regulatory Appointments Search Committee in Selection Process (Financial Sector Regulatory Appointments Search Committee -FSRASC) The role will be important. This committee will recommend qualified candidates.
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Madhavi Puri Buch’s tenure
Madhavi Puri Buch held the post of Chairperson of SEBI on March 2, 2022. She was the first woman head of SEBI and her term was three years. Prior to this, she was also employed as a full -time member in SEBI. During his tenure, SEBI launched many significant improvements and new initiatives. However, during his tenure, Buch was also accused. Questions were raised about his investment and violation of the code of conduct in the offshore funds associated with the Adani Group – first short -seler Hindenberg and later on behalf of the Congress Party. Apart from this, a section of SEBI employees accused him of making the atmosphere of functioning ‘poisonous’, although the matter has now been resolved.
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Tenure of previous presidents
The tenure of the SEBI chief is usually three years old. However, there have also been some exceptions, such as U.K. Sinha and Ajay Tyagi’s term was six and five years respectively. Both contributed to strengthening the regulatory structure of SEBI during their term. The new chairperson of SEBI will be expected to take the Indian financial market to new heights. In addition, it will be their primary responsibility to ensure the transparent and fair operations of the market.
