SEBI Chairman’s tenure extended till 2022
The government has extended the term of Ajay Tyagi as the Chairman of the Securities and Exchange Board of India (SEBI) by a period of 18 months till February 2022. The tenure of the present chairman was to end on August 31 after getting a six-month extension in February 2020. Now the Appointments Committee of the Cabinet has taken the decision to extend the tenure from 31.08.2020 to 28.02.2022.
Background
Tyagi was appointed the chairman of the securities market regulator of the country on 10th February 2017, after replacing UK Sinha. He started his tenure from 01st March 2017 at the board. He is an IAS officer of Himachal Pradesh cadre of the 1984 batch and has been instrumental in changing the margin guidelines for brokers and retail clients.
Who is Ajay Tyagi?
Ajay Tyagi has been the Additional Secretary at the Department of Economic Affairs under the Finance Minister, before joining the market regulator in 2017. After that, he was in charge of the portfolios of the capital market, investment, infrastructure and currency and coinage divisions. Regarding his education, he did his graduation in Electrical Engineering and post-graduation in Computer Science. He also holds a Masters in Public Administration from the Harvard University.
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Month: Current Affairs - August, 2020