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NRIPage | Articles | Government Invites Applications for SEBI Chairman Post | Get Business News. Grow and Thrive in the Modern Market around the world - NRI Page
The government has officially invited applications for the position of Chairman of the Securities and Exchange Board of India (SEBI) as current chairperson Madhavi Puri Buch's term concludes on February 28.
The application deadline is set for February 17, and the appointment will be made for a maximum period of 5 years or until the age of 65, whichever is earlier.
Salary and Benefits:
The appointed chairman will receive a monthly salary equivalent to that of a Secretary to the Government of India, which is ₹5,62,500 per month (excluding house and car).
Eligibility Criteria for Candidates:
Candidates must possess high integrity, reputation, and experience, with a preference for individuals over 50 years of age.
A minimum of 25 years of professional experience is required, preferably in fields like law, finance, economics, or accountancy.
The candidate should have the ability to address issues related to securities markets or possess specialized knowledge that would benefit the board.
Conflict of Interest Clause:
The selected candidate must not have any financial or other interests that could negatively impact their ability to perform their duties impartially as the SEBI chairman.
Appointment Recommendation Process:
The Financial Sector Regulatory Appointments Search Committee (FSRASC) will recommend candidates for the position. The committee can also suggest qualified individuals who have not applied based on merit.
About Madhavi Puri Buch's Tenure:
Madhavi Puri Buch's three-year term as the SEBI chairperson began on March 2, 2022, and will end on February 28, 2025. The government is now in the process of selecting her successor.
