The search for the new chairman (president) of the Capital Market Regulator i.e. Securities and Exchange Board of India (SEBI) has started. SEBI has invited applications for the new chairman. The three -year term of the current chairman Madhavi Puri Buch ends on February 28. According to PTI news, Buch took over as the president of SEBI on March 2, 2022.
Will be able to apply by 17 February
According to the news, under the Ministry of Finance, the Department of Economic Affairs has invited applications from candidates till 17 February in a public advertisement. The Finance Ministry has said that the appointment will be made for a maximum period of 5 years from the date of taking charge or for the person appointed to achieve 65 years of age, whichever is earlier. The advertisement states that the Chairman will get equal to the Secretary of the Government of India, which is Rs 5,62,500 per month (without house and car).
What should be qualification
The ministry has said in its advertisement that the candidate should have high loyalty and prestige, keeping in mind the role and importance of SEBI as a regulator. Also, there should be a professional experience of more than 50 years and more than 25 years. In addition, the candidate must have the ability to deal with problems related to securities markets, or special knowledge or experience of law, finance, economics, accounting, which will be useful for the board in the opinion of the Central Government.
Another person is also free to recommend
It states that the Speaker should be a person who has no financial or other interest, which can adversely affect his work as the Speaker. The government will appoint a SEBI chairman on the recommendation of the Financial Sector Regulatory Appointment Search Committee. The committee is free to recommend another person on the basis of merit, who has not applied for the post.
Latest business news