Ajay Tyagi succeeds UK Sinha as Sebi chief

Securities and Exchange Board of India (SEBI) chairman-designate Ajay Tyagi on Saturday said that he was "looking forward" to handle the "big responsibility" of managing the market regulator.

"It is a big responsibility for me and I look forward to handling it".

According to an order issued by the Department of Personnel and Training (DoPT), 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.

Tyagi is from the 1984 Himachal Pradesh IAS cadre. The 58-year-old hails from Uttar Pradesh. He did Masters in Public Administration from Harvard and holds Masters in Technology (Computer Science), as per his official resume. Sinha, who had been appointed for a three-year term in 2011, had previously been given a two-year extension, followed by an unprecedented one-year extension. He has in the past served as joint secretary in the Ministry of Environment, Forests and Climate Change. Also, just before his last term was to end on February 17, 2016, the government re-appointed him to the position till March 1, 2017. He had earlier worked on the Board of RBI also.

"Discussed future agenda of Sebi and budget announcements related to capital markets", Jaitley said after the meeting of board of market regulator.

  • Zachary Reyes