Government issues notification for second SEBI Whole Time Member vacancy

Department of Economic Affairs, Ministry of Finance has issued vacancy for the second Whole Time Member (WTM) post of Securities and Exchange Board of India (SEBI) post. In a notification issued on the website of Department of Economic Affairs on Thursday, said, “WTM shall hold office for such period, not exceeding 5 years, as may be specified in the order of appointment provided that he shall not hold office after he attains the age of sixty-five years and will be eligible for re-appointment”. The last date for applications is October 6, 2025. The WTM shall be entitled to a pay of Rs 5,00,000 per month without car and house.

Constitution of the SEBI Board

As per the SEBI Act board is required to have 4 whole time members besides the chairman and 4 part time members. Currently the SEBI board is left with only 3 whole time members, Ananth Narayan G, Amarjeet Singh and Kamlesh Chandra Varshney. Ananth Narayan is the senior most member and will complete his three-year term next month. The other part time members of the board are Secretary, Department of Economic Affairs, Secretary, Ministry of Corporate Affairs, one Deputy Governor of Reserve Bank of India and one part time member usually from the world of finance, law, economics or academic. This one position is also vacant since long time. Earlier there used to be only 2 whole time members in SEBI board but later it was expanded to 4.

Incidentally, the one post of WTM was already vacant after completion of term of Ashwani Bhatia, whose tenured ended on May 31st.  Market watchers are expecting that the interview for both the vacancies may be conducted simultaneously by Government. The post of the Whole Time Member is equivalent to the grade of additional secretary in the central government.