The Finance Ministry has started scouting for two whole-time members for the Securities and Exchange Board of India.
One post of whole-time member is already vacant, while another position will fall vacant when Mr Prashant Saran's three-year term expires in May.
The Government has announced a five-year tenor to whole–time members of SEBI. In case an incumbent attains 65 years of age prior to completing the tenor he would have to demit office.
Existing whole-time members are also eligible for re-appointment. The Centre has clarified that serving Government servants are expected to resign from their service if they are selected for appointment as a whole time member. Incumbents have the option of choosing between a consolidated salary of Rs 2.5 lakh a month or the pay scale as admissible to an Additional Secretary in the Union Government.
A whole-time member should have special knowledge or experience of law, finance, economics, accountancy, administration or any other discipline useful to SEBI.
> raghavendrarao.k@thehindu.co.in
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.