Madhabi Puri Buch appointed as new SEBI Chairperson

On Monday, the Securities and Exchange Board of India (SEBI) announced Madhabi Puri Buch as the new Chairperson of the board.

Buch will replace Ajay Tyagi as SEBI Chairperson whose tenure has come to an end today. 

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Tyagi was appointed as SEBI Chairperson in 2017 with a three-year long term. In August 2020, the central government granted him an extension of 18 months due to the COVID-19 pandemic. He was a 1984 batch IAS officer of Himachal Pradesh cadre.

Madhabi Puri Buch served in SEBI between 2017 and 2021 as a Whole Time Member.

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In SEBI, she was responsible for the Surveillance and Investigation Department. She also had the responsibility of the department associated with MFIMD.

Buch has a lot of experience in capital market and banking. She has been famous for taking tough decisions in SEBI. There was a special focus on development related to technology in SEBI under her. 

Buch has associated with ICICI Bank for a long time and also has been the MD & CEO of ICICI Securities. 

The finance ministry had invited applications from eligible candidates in October 2021 for the post of Sebi Chairman and the deadline for submission of the applications was December 6, 2021, as per a PTI report.

As per the procedure for the appointment of regulators, the candidates were shortlisted by the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by Cabinet Secretary.

Sources said senior bureaucrats and former members of Securities and Exchange Board of India (Sebi) have applied for the position, as per PTI.