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February 11, 2017

Meet the new Chairman of SEBI - Ajay Tyagi

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The government today appointed the Senior Finance Ministry official Ajay Tyagi as the new Chairman of Securities and Exchange Board of India (SEBI). He will be in this position for a period of 5 years or till the age of 65 years or until further orders,whichever is the earliest.

He is going to replace Upendra Kumar Sinha, whose extended tenure ends on 1st March 2017. Sinha's three-year term began in February 2011, following which he got two extensions, making him one of the longest-serving SEBI chiefs.

Tyagi,  who hails from Uttar Pradesh, is a 1984 batch IAS officer of Himachal Pradesh cadre. Currently he is working as the Additional Secretary (Investment) in the Department of Economic Affairs and handles capital market.  The appointment was made on the eve of finance minister Arun Jaitley's post-budget meeting with the Sebi board today.  Sebi chairman receives a consolidated pay package of Rs 4.5 lakh per month.

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