New SEBI Chief’s tenure cut short
Senior IAS officer Ajay Tyagi appointed new SEBI chief 12 Feb 2017
Senior bureaucrat Ajay Tyagi has been appointed as the chairman of the Securities and Exchange Board of India (SEBI).
Tyagi, a 1984-batch IAS officer from Himachal Pradesh cadre, is an additional secretary in the Department of Economic Affairs and manages the capital market division.
He will assume the mantle of UK Sinha, whose twice-extended service tenure since 2011 ends on March 1.
What is SEBI and what does it do? Fact
SEBI is the regulator for all finance and investment markets in India.
Set up in 1992, it has the power to regulate and approve by-laws of stock exchanges, inspect books of players, compel selected companies to get listed and even handle the registration of brokers.
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