Search for New SEBI Chief Begins Amidst Controversy

The government has started the selection process for a new chairperson of SEBI as Madhabi Puri Buch's tenure ends. The ideal candidate should have high integrity and professional experience, especially in finance or law. Buch's tenure faced controversies, including allegations of a conflict of interest.

The government initiated the selection process for a new chairperson of the Securities and Exchange Board of India (SEBI) on Monday, a month before the current chief, Madhabi Puri Buch's, tenure ends. The chosen appointee will serve for five years or until they reach 65 years of age.

According to the Finance Ministry, the candidate should possess high integrity, professional eminence, and at least 25 years of experience, especially in fields like finance, law, or economics, to lead SEBI effectively. The deadline for applications is set for February 17.

Buch's term witnessed controversies, including allegations by Hindenburg Research of a conflict of interest. Despite denying the claims, these incidents have heightened anticipation surrounding the selection of the next SEBI chief.

(With inputs from agencies.)