Government Invites Application For SEBI Chief Post

The government on Monday invited applications for the post of Chairman of the Securities and Exchange Board of India (SEBI). The current SEBI chairperson Madhabi Puri Buch's three-year term ends on February 28. Buch assumed charge at the helm of SEBI on March 2, 2022. In a public advertisement, the department of economic affairs under the finance ministry invited applications from candidates by February 17.

"The appointment shall be made for a maximum period of 5 years from the date of assumption of charge or till attaining the age of 65 years of the appointee, whichever is earlier," the ministry said. The chairperson will receive a pay equivalent to a secretary to the Government of India which is Rs 5,62,500 per month (without house and car), the advertisement said.

The ministry also said that keeping in view the role and importance of SEBI as a regulator, the candidate should have "high integrity, eminence and reputation preferably above 50 years with more than 25 years of professional experience". The candidate is also required to have a "shown capacity in dealing with problems relating to securities markets, or has special knowledge or experience of law, finance, economics, accountancy' which in the opinion of the central government shall be useful to the board".

"The chairman should be a person who does not and will not have any such financial or other interests as are likely to affect prejudicially his function as the chairman," the advertisement added. The government will appoint the SEBI chairperson on the recommendation of the Financial Sector Regulatory Appointments Search Committee (FSRASC). The committee is also free to recommend any other person also who has not applied for the post on the basis of merit, it added.

(PTI)