New Delhi: The Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi, has given a tenure extension to the Chairman of Securities and Exchange Board of India (SEBI) on Wednesday. According to an order from the Department of Personnel & Training (DoPT), the government has approved the extension of the term of appointment of Ajay Tyagi as the Chairman of SEBI for a period of 18 months with effect from September 1, up to February 28, 2022, or until further orders, whichever is earlier.
Tyagi is a 1984 batch Indian Administrative Services (Retired) officer of the Himachal Pradesh cadre. He was appointed as SEBI Chairman in March 2017 for three years. Earlier in March, he was given a six-month extension till August. And now, another extension has been given for a period of 18 months.
Securities and Exchange Board of India (SEBI)
The Securities and Exchange Board of India (SEBI) is the regulator of the securities and commodity market in India owned by the government. It was established on 12 April, 1988 and given Statutory Powers on January 30, 1992, through the SEBI Act, 1992. SEBI was first established in 1988 (originally formed in 1992) as a non-statutory body for regulating the securities market. It became an autonomous body on 12 April 1992. SEBI has its headquarters at the business district of Bandra Kurla Complex in Mumbai and has Northern, Eastern, Southern and Western Regional Offices in New Delhi, Kolkata, Chennai, and Ahmedabad, respectively.
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