Madhuri Puri Buch to be the new Chairperson of SEBI
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Madhuri Puri Buch has been named the chairperson of the Securities and Exchange Board of India (SEBI) for three years.
She is the first woman to head the capital market regulator as the tenure of incumbent Ajay Tyagi ends on February 28, 2022.
Buch will not only be the first woman but also the first person from the private sector to be appointed as the chairperson of SEBI.
She started her career with ICICI Bank and later went on to become Managing Director( MD) and Chief Executive Officer (CEO) at ICICI Securities from Feb 2009 to May 2011. In 2011, she left for Singapore to join Greater Pacific Capital LLP.
How are chief of the various financial regulating bodies in India selected
The candidates are shortlisted by the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by the cabinet secretary.
Based upon interactions, the FSRASC recommended the name to the appointments committee of the cabinet headed by Prime Minister Narendra Modi.
Important for Exam
Various Regulators in India
Insurance sector regulator : IRDAI (Insurance and Regulatory Authority of India ), Chairman Mr Subhash Chandra Khuntia
Banks regulator: RBI(Reserve Bank of India ) Governor Shakti Kanta Das
Capital Market regulator: SEBI(Securities Exchange Board of India ),Chairman :Madhuri Puri Buch
Pension Market regulator: PFRDA(Pension Fund and Regulatory Development Authority of India ),Chairman Supratim Bandyopadhyay,
Regulator of IFSC(International Financial Service Center ): International Financial Services Centers Authority, Chairperson Mrs .Injeti Srinivas
Current Cabinet Secretary : Rajiv Gauba
Securities Exchange Board of India(SEBI) was set up on 12 April 1988 and it was given statutory status by the SEBI act 1992 on 30 January 1992.
It comes under the Ministry of Finance , Government of India .
It is the regulator of the Capital market and Commodities market in India .
Capital markets include securities markets and Secondary markets like stock exchanges .
The first SEBI chairman was Dr S A Dave (1988-90)
Madhuri Puri Buch will be the 10th Chairperson of the SEBI.
U.K.Sinha was the longest-serving chairman . He was chairman from 18 February 2011 to 10 February 2017 (around 6 years).
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