The government has appointed former SEBI member Madhabi Puri Buch as chairperson of the Securities and Exchange Board of India (SEBI). She will be the first woman chair of the capital market regulator.
Buch replaces Ajay Tyagi, whose five-year term ends today, February 28. The Appointments Committee of Cabinet has approved Buch's appointment for an initial period of three years.
Buch was head of ICICI Securities and served as Whole Time Member of SEBI from 2017 to 2021.
She also headed the advisory committee, addressing areas like securities market data access and privacy.
Tyagi has been chairperson since 2017. Though his initial three-year term ended in 2020, it was extended twice.
The finance ministry had called for applications in October 2021 and the shortlisted candidates were interviewed by a panel that included the economic affairs secretary.
The shortlist for candidates was made by the Financial Sector Regulatory Appointments Search Committee (FSRASC).
Among the other contenders for the post were IFSCA chairman Injeti Srinivas and ex-finance secretary Debashish Panda.
Praise poured in from the business fraternity for the appointment of Buch, with Deepak Shenoy, founder of Capital Mind, among others tweeting his wishes.
- With inputs from PTI
