Madhuri Puri Buch to be the new Chairperson of SEBI

Tags: Person in news

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 

SEBI 

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).