After the approval from the Appointments Committee of the Cabinet, headed by the Prime Minister, a notification was issued on Monday wherein Madhabi Puri Buch was appointed as the new Chairperson of the Securities Board of India (SEBI). She replaced Ajay Tyagi whose tenure as SEBI chairman ended on Monday.

As per the notification, her appointment is approved for an initial period of three years and she is likely to take charge of Wednesday, 2 March.

This is the first time a woman has been appointed as SEBI Chaiperson and that too from the private sector. This also makes her the first person from the private sector to get at this post. Puri Buch, 56, has had a more than a four-year stint at Sebi as a whole-time member (WTM) — a post just below the chairman. The IIM-Ahmedabad alumna will also be the youngest Sebi chief.

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Whereas, Ajay Tyagi, is a 1984 batch from Himachal Pradesh cadre, Puri Buch worked closely with Tyagi during her stint as WTM between April 5, 2017 and October 4, 2021. As Sebi’s WTM, she handled key portfolios, such as surveillance, mutual funds, and collective investment schemes.served as chairman for five years.