Madhabi Puri Buch Appointed as First Woman Chairperson of SEBI
She will replace Ajay Tyagi, whose term ends on 28 February.
advertisement
The Union government on Monday, 28 February, appointed Madhabi Puri Buch as the new chairperson of Securities and Exchange Board of India (SEBI). She is the first woman chairperson of the market regulator.
She will replace Ajay Tyagi, whose term ends on 28 February after a three-year tenure. Tyagi is a 1984 batch IAS officer of the Himachal Pradesh cadre.
With more than 30 years of experience in the field of finance, Buch has also served as the head of ICICI Securities, and as a non-executive director at Max Healthcare.
Who is Madhabi Puri Buch?
Buch, who studied at St Stephen's College in Delhi and the Indian Institute of Management in Ahmedabad, had served in the SEBI between 2017 and 2021 as a Whole Time Member. Buch took up portfolios like collective investment schemes, surveillance, and investment management at SEBI.
Besides serving in the financial market, Buch has also worked as a lecturer at ORG-MARG in the UK, before returning to ICICI Bank in 1997, where she handled multiple assignments. She was the head of the bank's mortgage arm as well as the executive director for consumer and corporate banking.
Before her appointment to SEBI as a Whole Time Member, Buch served as an independent director of numerous companies in Singapore.
In her new role as the chairperson, her immediate task will be to restore people's trust in the Indian markets.
She will also have to ensure facilitation of Life Insurance Corporation of India’s (LIC) mega initial public offering (IPO).
According to a report by ET NOW, the government might initially offload 5 percent stake in LIC for Rs 65,000 crore. Besides, Buch will continue with the reforms, with special focus on retail investors.
(With inputs from TNN and NDTV.)
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)