New chairperson of SEBI: The Government of India on February 28, 2022, appointed Madhabi Puri Buch as a new Chairperson of the market regulator SEBI (Securities and Exchange Board of India).
Madhabi Puri is the former head of ICICI Securities and has become the first woman Chairperson of SEBI. She will replace Ajay Tyagi, a 1984 batch IAS officer of the Himachal Pradesh cadre.
The notification issued by the Indian Government stated that the Appointments Committee of the Cabinet has approved the appointment of Madhabi Puri Buch, the former Whole Time Member, SEBI to the post of Chairman, SEBI, initially for a period of three years from the date of assumption of charge of the post.
Who is Madhabi Puri Buch?
1. Madhabi Puri Buch had served in SEBI between 2017 and 2021 as a whole-time member and has now become the first woman to head the market regulator.
2. Buch is an IIM Ahmedabad alumnus. She will also be the first person from the private sector to be appointed as the Chief of the Securities and Exchange Board of India (SEBI).
3. Earlier, Buch served as a non-executive director of the companies such as Zensar Technologies, Idea Cellular Ltd, and Max Healthcare. She also headed ICICI Securities as the Chief Executive for the period of two years.
4. The new Chairperson of SEBI has donned various hats and has been a founding committee member of the Indian Banks Association. She has also been a management committee member of the Bombay Chamber of Commerce and Industry.
5. Madhabi Puri Buch will be the youngest SEBI Chairperson so far and is likely to assume charge on March 2, 2022.
New Chairperson of SEBI: What will be the immediate task?
Madhabi Puri Buch will take over as a new Chief of SEBI when the global markets have been roiled by the Russia-Ukraine conflict. The immediate agenda for Buch will be the approval of the initial public offer document of the Life Insurance Corp of India (LIC). The sale will be India’s biggest primary market fundraise.
SEBI Chairman List
| Name | From | To |
|---|---|---|
| Madhabi Puri Buch | 1 March 2022 | Present |
| Ajay Tyagi | 10 February 2017 | 28 February 2022 |
| U K Sinha | 18 February 2011 | 10 February 2017 |
| C. B. Bhave | 18 February 2008 | 18 February 2011 |
| M. Damodaran | 18 February 2005 | 18 February 2008 |
| G. N. Bajpai | 20 February 2002 | 18 February 2005 |
| D. R. Mehta | 21 February 1995 | 20 February 2002 |
| S. S. Nadkarni | 17 January 1994 | 31 January 1995 |
| G. V. Ramakrishna | 24 August 1990 | 17 January 1994 |
| Dr. S. A. Dave | 12 April 1988 | 23 August 1990 |
About SEBI
The Securities and Exchange Board of India is the regulatory body for the securities and the commodity market in India. It is under the ownership of the Ministry of Finance and was established on April 12, 1988. SEBI was given the Statutory Powers on January 30, 1992, through SEBI Act, 1992.
The aim of SEBI is to protect the interests of the investors in the securities and to promote the development of, and to regulate the securities market and for the matters connected.
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