Govt invites applications for SEBI chairperson as Madhabi Buch’s tenure nears end

The ministry of finance has invited applications for the post of chairperson of the Securities and Exchange Board of India (SEBI), as the tenure of the current chief, Madhabi Puri Buch, is set to conclude on February 28, 2025.

In a public advertisement, the department of economic affairs under the finance ministry stated that eligible candidates may apply for the position, which offers a pay scale equivalent to that of a Secretary to the Government of India or a consolidated monthly salary of ₹5.62 lakh, as per the recommendations of the Seventh Pay Commission.

The chairperson of SEBI, India’s capital market regulator, will be appointed for a term not exceeding five years or until the age of 65, whichever is earlier. Re-appointment for the position is permissible under the applicable rules.

"Applications are invited from the eligible candidates for filing up the post of Chairman in Securities and Exchange Board of India (SEBI)...The Chairman shall hold office for such period not exceeding 5 years and shall not hold office beyond 65 years of age, whichever is earlier, and will be eligible for re-appointment," the notification read.

Eligibility Conditions

Laying down the eligibility criteria, the ministry said the applicants must be individuals of integrity, ability, and standing, with expertise in dealing with issues related to securities markets or possessing special knowledge in fields such as law, finance, economics, accountancy, administration or "in any other discipline, which in the opinion of the Central Government shall be useful to the Board."

"The Chairman should be a person who does not, and will not have any such financial or other interests as are likely to affect prejudicially his functions as the Chairman," it added.

The appointment will be made by the Union government based on the recommendations of the Financial Sector Regulatory Appointments Search Committee (FSRASC), which may also consider candidates who have not formally applied for the position.