SEBI Chairperson Recruitment: Union Finance Ministry has invited applications for the post of Chairperson of Securities and Exchange Board of India (SEBI). Applications for the post of SEBI Chairperson can be made till 17th February. The tenure of current SEBI Chairperson Madhabi Puri Buch is ending on February 28. After the Hindenburg Report, Madhabi Puri Buch, who was constantly in controversies, was demanded to resign from the post of chairman. Now that his tenure is coming to an end, the exercise to appoint a new president has been started.
The tenure of SEBI Chairman is five years.
Can serve as Chairman of SEBI for a maximum period of five years. If the Speaker turns 65 years of age before the completion of his five-year term, he has to step down midway. Madhabi Puri Buch’s tenure began on March 2, 2022. However, Madhabi Puri Buch’s extended tenure is only for three years, it will end on February 28, 2024. Previously served as a full-time member from 2017 to 2022.
Salary Rs 5 lakh per month
The Chairman of SEBI gets the option to receive a salary equal to that of a Secretary to the Government of India. In which he earned Rs. without car and house. Can take salary of Rs 562500 per month. The government has been looking for an alternative to Madhabi Puri Buch since October.
Appointment will be done like this
According to the notification issued by the ministry, keeping in mind the important role of SEBI as a regulator, the candidate should be of “high integrity, reputation. Age limit should be above 50 years and professional experience above 25 years. The candidate must have “. Must have the ability to deal with issues related to securities markets Must have special knowledge or experience in law, finance, economics, accountancy. The government will appoint the SEBI chairman on the basis of the recommendations of the Financial Sector Regulatory Appointment Search Committee (FSRASC).
Madhabi’s tenure was controversial
SEBI Chairperson Madhabi Puri has been embroiled in controversy after Buch and her husband Hindberg accused her of involvement in the Adani Group share rigging case. The opposition also demanded his resignation and action. Apart from this, it was also alleged by SEBI employees that due to Madhabi Puri massacre, there is a poisonous atmosphere in the office. The employees also staged a strike to remove him from the post.
