Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Mon, 28 Feb 2022 02:51 PM IST
Summary
Madhabi Puri Buch To Replace Ajay Tyagi: The country’s largest insurance company LIC’s IPO of about 63,000 crores is going to be launched in March. Before this, a major change has been seen in the market regulator SEBI. In fact, a report said that Madhabi Puri will be the new chairman of SEBI, replacing Ajay Tyagi.
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Madhabi was a whole time member of SEBI
It is worth noting that Ajay Tyagi, a 1984 batch IAS officer of Himachal cadre, was made the chairman of SEBI on March 1, 2017 for three years and thereafter his tenure was extended. This big news has come to the fore only during the end of his term on Monday, quoting sources. Let us inform that Madhabi Puri has also been a whole-time member of SEBI from April 2017 to October 2018. According to the report, Puri has been made the chairman of SEBI for the next three years.
Provided services in many big institutions
Madhabi Puri Buch, who holds an MBA degree from IIM, started her career with ICICI Bank. She served as the Managing Director and Chief Executive Officer at ICICI Securities from February 2009 to May 2011. Thereafter he also served as Executive Director on the Board of ICICI Bank Limited. Prior to joining SEBI, he worked as an advisor to the New Development Bank in Shanghai, China. In addition, she has been the head of the Singapore office of private equity firm Greater Pacific Capital.
Applications were sought in October
Significantly, in October last year, the Finance Ministry had invited applications for the post of chairman of SEBI. The last date of application was fixed as 6 December 2021. As per the process of appointment of regulators, applicants are shortlisted by the Financial Sector Regulatory Appointments Search Committee, which is headed by the Finance Secretary. According to the report, many names including IFSCA Chairman Injeti Srinivas and former Finance Secretary Debashish Panda were in the race for the post of SEBI chairman. were also in the race.