New chairman of Sebi
Ajay Tyagi assumed charge as the ninth chairman of Securities and Exchange Board of India (Sebi). The former additional secretary in the Department of Economic Affairs, made a confident entry in the Sebi's and is likely to hit the ground running.
Finance Ministry has set some action plan for Tyagi particularly in the area of commodity markets. "He has been briefed to focus on integration of the commodity market by allowing interoperability for brokers. The government has a view that commodity market still lacking confidence even post-merger with Sebi and will need some regulatory changes," said a government official.
- Tyagi, a 1984-batch IAS officer of Himachal Pradesh cadre, has handled capital markets division in the Finance Ministry. That experience would be crucial at Sebi.
- Tyagi has diverse experience at the Centre. He was Joint Secretary in the Ministry of Environment, Forest and Climate Change before joining Finance Ministry in November 2014 as Additional Secretary.
- He has also worked in ministries of Petroleum and Natural Gas, Steel and Rural Development. A native of Uttar Pradesh, he had done post graduation in Economics.
- He did Master's in Public Administration from Harvard and holds Master's degree in Technology (Computer Science), as per his official resume.
- Tyagi will succeed Sinha who was the second-longest serving Sebi chief after D R Mehta's seven-year term from 1995 to 2002.