U K Sinha retires, Ajay Tyagi to take over as Sebi chief

U K Sinha, a 1976 batch IAS officer of Bihar cadre, was first appointed as Sebi Chairman on February 18, 2011, by the then UPA government.

U K Sinha retires, Ajay Tyagi to take over as Sebi chief

While the extended tenure of U K Sinha comes to an end on March 1, senior Finance Ministry official Ajay Tyagi was appointed as Chairman of the Securities and Exchange Board of India (Sebi) on Friday.

Ajay Tyagi, the 1984 batch IAS officer of Himachal Pradesh cadre will succeed U K Sinha. Tyagi is Additional Secretary (Investment) in the Department of Economic Affairs at present, and handles capital market, among other things. He had earlier worked on the Board of RBI also.


The Department of Personnel and Training (DoPT) issued an order saying that the Appointments Committee of the Cabinet-headed by Prime Minister Narendra Modi approved Tyagi’s appointment for a period not exceeding five years or till the age of 65 years.As Chairman of the Securities and Exchange Board of India (Sebi), Tyagi will oversee regulation and surveillance of capital markets and all the market infrastructure entities such as stock exchanges and intermediaries including brokerage firms, mutual funds, FPIs, investment banks and rating agencies, as also thousands of listed companies.

As Chairman of the Securities and Exchange Board of India (Sebi), Tyagi will oversee regulation and surveillance of capital markets and all the market infrastructure entities such as stock exchanges and intermediaries including brokerage firms, mutual funds, FPIs, investment banks and rating agencies, as also thousands of listed companies.

“When I join there, it is a big responsibility and I look forward to handling it,” Tyagi told reporters after Finance Minister Arun Jaitley addressed Sebi’s board members and top officials at a customary post-budget meeting with the regulatory authority.

U K Sinha, a 1976 batch IAS officer of Bihar cadre, was first appointed as Sebi Chairman on February 18, 2011, by the then UPA government. He was later given a two-year extension and days before the end of his tenure in February 2016, he was given another extension till March 1, 2017.

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