On Monday, Madhabi Puri Butch was appointed as the new chairperson of SEBI. This is the first time that a woman has taken the lead in the Securities and Exchange Board of India. He has replaced Ajay Tyagi. The term of this post is five years. According to sources, the Cabinet Appointments Committee has initially approved Butch's appointment for three years. It has been informed that a formal order will be issued in this regard soon. Earlier, Madhavi was a consultant for the New Development Bank in Shanghai, China. He has also served as head of the Singapore office at Greater Pacific Capital.
Madhabi was in ICICI group for a long time. He was the Managing Director and Chief Executive Officer of ICICI Securities Limited. She has also served as the Executive Director of the Board of ICICI Bank. Madhavi graduated from St. Stephen's College. Butch holds an MBA from the Indian Institute of Management, Ahmedabad.
A short list of candidates is first made according to the recruitment procedure. The list was prepared by the Financial Sector Regulatory Appointments Search Committee. Which is headed by the Cabinet Secretary. The SEBI chairman is appointed for a maximum of five years or up to 65 years, whichever is earlier. IAS Tyagi, a 1974 batch of Himachal Pradesh cadre, was appointed as SEBI Chairman for three years on March 1, 2016. His term was later extended to six months. His term was extended for another 16 months in August 2020.
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