The government has named Ashwani Bhatia, managing director of State Bank of India (SBI), as a whole-time member (WTM) of the Securities and Exchange Board of India (SEBI).
According to sources, the Appointments Committee of the Cabinet (ACC) has approved Bhatia's nomination as a member for a period of three years from the date of assumption of command.
According to sources, now that Bhatia has been selected as WTM, there is only one WTM position left to be filled at SEBI.
In August 2020, Bhatia, who is set to retire in May this year, was promoted to managing director of SBI. He was the managing director and chief executive officer of SBI Mutual Fund prior to then.
The government appointed a new secretary of state just a few weeks ago. According to sources, Bhatia's nomination as a member of the Appointments Committee of the Cabinet (ACC) has been accepted for a period of three years from the date of assumption of responsibility.
Madhabi Puri Buch, the first woman to lead the capital market regulator, has been named as the new chairman of Sebi.
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