Shortlist for next SEBI Chief with PMO; appointment expected on March 3: Sources

The Prime Minister’s Office (PMO) has received the shortlist of candidates for the next Chairperson of the Securities and Exchange Board of India (SEBI), according to sources. The new SEBI chief is expected to take charge on Monday, March 3, 2025.The tenure of the current SEBI Chairperson, Madhabi Puri Buch, ends on March 1. She assumed office on March 2, 2022, for a three-year term, becoming the first woman to lead SEBI. Buch succeeded Ajay Tyagi, who served for five years from March 2017 to February 2022. Before him, UK Sinha held the position for six years, marking back-to-back extended tenures in SEBI’s leadership.

Before joining SEBI as a whole-time member in April 2017, Buch held leadership roles at ICICI Bank from 1997 to 2009 and served as CEO of ICICI Securities from 2009 to 2011. Her five-year tenure as a whole-time SEBI member paved the way for her appointment as chairperson.

While Buch’s tenure has been marked by significant regulatory actions and reforms, it has also faced challenges.Despite these issues, the government decided she would complete her term.

The SEBI chairperson is usually appointed for a three-year term, though extensions have been granted in the past. In January, the government invited applications for the position, setting February 17, 2025, as the deadline for submissions.