The government is likely to approve the re-appointment of UK Sinha as the head of Securities and Exchange Board of India (Sebi) for two more years, according to an Economic Times report.
Sinha's three year term as Sebi chief ends in February 2014 and the media reports indicate that Finance Ministry has already sought the vigilance approval required for his re-appointment.
Experts said that the move also indicated that government backed Sinha and his policies in market regulation. If approved, Sinha would be the second Sebi chief ever to get a re-appointment.
Meanwhile, Sinha has so far worked with four finance ministers during his civil service career — Yashwant Sinha, Jaswant Singh, Chidambaram and Pranab Mukherjee.
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