The Securities and Exchange Board of India (SEBI) will now be headed by a chairperson and not a chairman. On Monday, The Appointments Committee of the cabinet appointed Madhabi Puri Buch, a former banker, as the new SEBI chairperson.
Buch will become the 10th chief of the market regulator, the first woman and the first private sector executive to head the institution. It is yet another example of breaking the glass ceiling in the male-dominated field of financial regulation.
News reports quoted Shruti Rajan, partner, Trilegal, as saying, “She will perhaps be the first woman at the helm of a key Indian financial regulator, and that’s an extraordinary feat. It is a heartening change in an industry where we’re seeing more women leaders on the rise.”
Buch has been appointed for an initial term of three years.
Known to be a tough taskmaster, her appointment comes at a crucial time when the Indian stock market is recovering steadily after being roiled by multiple waves of the pandemic.
