Sebi likely to have a bureaucrat as its next chairperson

The Securities and Exchange Board of India (Sebi) is likely to have a seasoned bureaucrat as its next chairperson after Madhabi Puri Buch's three-year term at the helm of the capital market regulator ends this month, two persons familiar with the development said.

- Gireesh Chandra Prasad & Subhash Narayan

Buch is the only chairperson in Sebi's 36-year history who has a background in the private sector.

The people currently under consideration for the post include department of economic affairs secretary Ajay Seth, Sebi whole-time member Ashwani Bhatia and deputy comptroller and auditor general Anand Mohan Bajaj, said one of the two persons quoted above, both of whom spoke on the condition of anonymity.

The second person said the secretary to the government in another economic ministry and the chair of a financial sector regulatory body are also under consideration. The names of these officials could not be ascertained.

Seth and Bajaj have long experience in government, especially in the finance ministry, while Bhatia had a long career in public sector banking before joining Sebi.

"A former or serving bureaucrat has a good chance," said the first person quoted above.