Ajay Tyagi to replace UK Sinha as SEBI chairman

Senior IAS officer Ajay Tyagi will take over as the chairman of Securities and Exchange Board of India when outgoing SEBI chief UK Sinha’s tenure ends on March 1, 2017.

A 1984-batch IAS officer of the Himachal Pradesh cadre, Tyagi was handling the portfolio of Additional Secretary for Economic Affairs in the Finance Ministry since 2014. 

In the run-up to the appointment of SEBI chairman, Tyagi and Power Secretary PK Pujari had emerged as frontrunners.Sinha took the helm as SEBI Chairman on February 18, 2011. He was initially appointed for a 3-year term but was given a two-year extension. Also, just before his last term was to end on February 17, 2016, the government re-appointed him to the position till March 1, 2017.The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi has approved his appointment for a period not exceeding five years or till the age of 65 years, an order issued by Personnel Ministry said.58-year-old Tyagi, who hails from Uttar Pradesh, is a Post Graduate in Economics. He did Master in Public Administration from Harvard and holds Master in Technology (Computer Science), as per his official resume.He holds a Bachelor degree in electronics also.He was Joint Secretary in Ministry of Environment, Forest and Climate Change before joining Finance Ministry on November 1, 2014 as Additional Secretary.During his stint at the Centre, Tyagi has also worked in ministries of Petroleum and Natural Gas, Steel and Rural Development. He held various posts in Himachal Pradesh government including in power, revenue, finance and information technology.Tyagi, for a short while, was also on the board of Reserve Bank of India (RBI).With inputs from PTI.

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