By: D.K Choudhary
Government Cuts SEBI’s Chairman-Designate Ajay Tyagi’s Tenure by Two Years
i. The Union Government on February 17, 2017 reduced the tenure of the next Chairman of Securities and Exchange Board of India (SEBI), Ajay Tyagi by two years without giving any reason behind the decision.
ii .Now the 58-year-old Tyagi will join as the SEBI Chairman for an initial period of three years instead of five years after the tenure of Sinha ends on March 1, 2017.
iii. On February 10, 2017 Ajay Tyagi’s name was approved by the government to be appointed as the next Chairman of SEBI with a five-year term to succeed incumbent U K Sinha.
iv. Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre is presently posted as Additional Secretary (Investment) in the Department of Economic Affairs.
Securities and Exchange Board of India (SEBI)
♦ The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India.
♦ SEBI also supervises various kinds of market entities including brokers, mutual funds, FIIs, rating agencies and investment bankers, as also thousands of listed companies.
♦ Formed: 12 April 1992
♦ Headquarters: Mumbai, Maharashtra
♦ Chairman: U.K. Sinha
Renu Pall concurrently accredited as Ambassador of India to Montenegro
i. Former IFS officer Renu Pall has been concurrently accredited as the next Ambassador of lndia to Montenegro, with residence in Vienna (Austria)
ii. Currently he is working as the ambassador of lndia to Austria.
♦ Capital: Podgorica
♦ Currencies: Euro, Euro sign