Senior IAS officer Ajay Tyagi has been named as the next chairman of the Securities and Exchange Board of India (SEBI), according to a government notification. He will replace UK Sinha, who retires next month after a six-year term.
The Appointments Committee of the Cabinet on Friday approved Tyagi's name for the top job at SEBI, the notification said. He has been appointed for a period not exceeding five years or till the age of 65 years or until further orders, whichever is the earliest, it said.
A 1984-batch IAS officer of the Himachal Pradesh cadre, Tyagi is currently additional secretary (investments) in the Department of Economic Affairs in the Ministry of Finance. He has in the past served as joint secretary in the Ministry of Environment, Forests and Climate Change. Tyagi has also served on the board of the RBI.
Sinha had taken over as SEBI chief on February 18, 2011 for three years. His term was extended twice – first by two years in 2014 and then by one year in 2016.
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