India Invites Applications for SEBI Chairperson Amid Controversies

The Indian Ministry of Finance is seeking applicants for the SEBI Chairperson role. Current Chairperson, Madhabi Puri Buch, faces allegations involving conflicts of interest and financial opacity, though she has dismissed these claims. The new appointment will be based in Mumbai, with a salary of Rs 5,62,500 per month.

The Ministry of Finance, through its Department of Economic Affairs, has announced an opening for the prestigious position of Chairman at the Securities and Exchange Board of India (SEBI) in Mumbai. This role, crucial for overseeing the integrity of India's financial markets, offers a five-year term or until the appointee turns 65, whichever comes first.

The remuneration for this post is set at an attractive pay scale matching that of a Secretary to the Government of India, or a consolidated monthly salary of Rs 5,62,500. However, the package excludes additional perks such as government housing or transportation. Interested candidates must apply by February 17, 2025, as per the details on the Ministry's official website.

Current Chairperson Madhabi Puri Buch, in office since March 2, 2022, has navigated both significant developments and controversies. Breaking ground as the first woman to assume this role, her tenure has been marked by allegations from the Indian National Congress concerning potential conflicts of interest linked to the Adani Group and her previous affiliations with ICICI Bank. Buch, however, has refuted these allegations, claiming them baseless.

(With inputs from agencies.)