The union finance ministry has invited applications to appoint the next chairman of the Securities and Exchange Board of India (Sebi) who will succeed Ajay Tyagi.
The ministry has invited applications for the post of Sebi chairman for a maximum period of five years or till 65 years, whichever is earlier.
Tyagi is a 1984 batch IAS officer of the Himachal Pradesh cadre. He was first appointed as Sebi chairman on March 1, 2,017 for a period of three years. However, his tenure was extended for six months, and later in August 2020, he was given an 18-month extension.
The deadline to submit the application is on or before December 6, 2021. “Incomplete applications and applications received after the last date shall not be considered,” Finance Ministry’s Economic Affairs Department said.
As per the procedure for the appointment of regulators, the candidates will be shortlisted by the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by Cabinet Secretary.
The shortlisted candidates are interviewed by the panel comprising Economic Affairs Secretary and three external members having domain knowledge.
Based on interaction, FSRASC recommends the name to the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi for approval.
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