The Securities and Exchange Board of India (India) introduced on Wednesday that Ashwani Bhatia – former managing director on the State Bank of India (SBI) – had taken cost as a whole-time member (WTM) on Tuesday. For the final seven months, the regulator had operated with solely two whole-time members, S Ok Mohanty and Anant Barua.
The tenure of Madhabi Puri Buch and G. Mahalingam as WTMs ended final 12 months. As a end result, positions for 2 whole-time members had been vacant at Sebi. Madhabi Puri Buch was appointed because the chief of Sebi in February this 12 months. However, the federal government is but to nominate a fourth member.
Bhatia in his function because the WTM will deal with the Department of Debt and Hybrid Securities (DDHS), Alternative Investment Fund and Foreign Portfolio Investors Department (AFD), Market Intermediaries Regulation and Supervision Department (MIRSD), Corporation Finance Investigation Department (CFID) and Office of Investor Assistance & Education (OIAE), Sebi mentioned in a press release on Wednesday.
Bhatia was appointed because the Sebi member by the Appointments Committee of the Cabinet (ACC) in March this 12 months for an preliminary interval of three years from his date of assumption. The veteran banker’s time period at SBI ended on May 31. Bhatia, earlier than his elevation as MD of SBI, was the chief government officer and MD at SBI Funds Management.
Bhatia joined the group of the nation’s largest public lender SBI in 1985 as a probationary officer. Joining the regulator as a WTM, he brings alongside a large expertise in Treasury Operations, Retail Banking, Credit, Investment Banking and Asset Management. In lecturers, Bhatia accomplished his education at Air Force School in Delhi and graduated in Physics and Mathematics from Agra. Further, he’s additionally an MBA from Podar Institute of Management, Jaipur.
Source: www.financialexpress.com”