Image Source : INDIA TV The government has invited applications from candidates by February 17.
SEBI Chairman post: The Union Government has officially invited applications to fill the position of Chairman of the Securities and Exchange Board of India (SEBI). The tenure of the current chairperson, Madhavi Puri Buch, is set to conclude on February 28, 2025. Buch, who took charge on March 2, 2022, became the first woman to lead SEBI in its history.
In a public advertisement, the Department of Economic Affairs under the Ministry of Finance has invited eligible candidates to apply for the position. The last date for submitting applications is February 17, 2025. The government seeks to appoint a new chairperson to oversee and guide SEBI’s key role in regulating India’s securities market to ensure transparency and foster investor confidence.
Tenure for SEBI Chairman
As per the advertisement, the appointment for SEBI Chairperson will be made for a maximum period of five years from the date of assumption of charge or till attaining the age of 65 years of the appointee, whichever is earlier.
Salary structure for SEBI Chairman
The Chairman of the Securities and Exchange Board of India (SEBI) has two options for receiving their remuneration:
Equivalent to a Secretary to the Government of India: The pay and allowances will align with those admissible to a government secretary.
Consolidated salary option: A fixed monthly salary of Rs 5,62,500, excluding additional perks such as a government-provided house and car.
Eligibility for SEBI Chairman
The ministry also said that keeping in view the role and importance of SEBI as a regulator, the candidate should have “high integrity, eminence and reputation preferably above 50 years with more than 25 years of professional experience”. The candidate is also required to have a “shown capacity in dealing with problems relating to securities markets, or has special knowledge or experience of law, finance, economics, accountancy’ which in the opinion of the central government shall be useful to the board”.
As per the advertisement, the government will appoint the SEBI chairperson on the recommendation of the Financial Sector Regulatory Appointments Search Committee (FSRASC). The committee is also free to recommend any other person also who has not applied for the post on the basis of merit, it added.
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