Newspaper ads have been placed by the Department of Economic Affairs in the Ministry of Finance to fill the position of Chairperson for the Securities and Exchange Board of India (SEBI), which is the regulator of the capital markets.
Eligible candidates are encouraged to apply for the position of SEBI Chairperson in Mumbai through the advertisement, "Filling up the post of Chairman in Securities and Exchange Board of India."
Additionally, all applications must be submitted by February 17, 2025, at the latest. As the three-year term of current SEBI Chair Madhabi Puri Buch expires on February 28, 2025, the advertisement is released.
How long will the new SEBI chairperson hold office?
According to the advertisement, the appointment for SEBI Chairperson will be for a maximum of five years from the date of assumption of charge or until the appointee reaches the age of 65, whichever occurs first.
What is the salary of the new SEBI chairperson?
The Chairman will have the option to receive pay —
(a) as admissible to a Secretary in the Government of India;
(b) or a consolidated salary of ₹5,62,500/- (Rupee Five lakh Sixty-Two Thousand and Five Hundred) per month (excluding house and car).
Madhabi Puri Buch, SEBI Chair, is about to finish her term.
Madhabi Puri Buch, the current SEBI Chairperson, will serve until February 28, 2025. She became the first woman to be appointed as SEBI chief, serving for three years beginning in March 2022.
However, her term has been marred by rough weather and tough allegations in recent months, including accusations of conflict of interest in a case involving alleged Adani Group stock manipulation.
