Appointments Committee of Cabinet has appointed Ajay Tyagi, a 1984 batch IAS officer of the Himachal Pradesh cadre, as the next Chairman of the Securities and Exchange Board of India.
The appointment is for a period not exceeding five years or till the age of 65 years.
Tyagi is currently Additional Secretary in the Economic Affairs Department of the Finance Ministry and is in-charge of the capital markets division.
Tyagi, 58, will take over from incumbent UK Sinha, whose tenure ends on March 1. Sinha, who had been appointed for a three-year term in 2011, had previously been given a two-year extension, followed by an unprecedented one-year extension.
