The government has announced openings for two whole-time member (WTM) positions at the Securities and Exchange Board of India (SEBI), with a deadline set for June 30 by the Department of Economic Affairs (DEA). Candidates selected will have the choice of a salary equivalent to that of an additional government secretary or a fixed monthly pay of Rs 5 lakh, excluding housing and car benefits.
SEBI currently has four whole-time members, including Amarjeet Singh, Kamlesh Chandra Varshney, Sandip Pradhan, and K.V.R. Murty. The tenures of Singh and Varshney are set to conclude in September after three years, with the possibility of reappointment within the age limit of 65 years.
The government is seeking individuals with expertise in areas like securities markets, law, finance, economics, accountancy, or administration for these roles. Candidates with high integrity, eminence, and a reputation of over 20 years in the age range of 45-60 years are preferred due to SEBI’s role as a market regulator.
Applicants from various sectors are required to submit copies of their annual performance appraisal reports, vigilance clearance, integrity certificates, and details of any penalties. The selected Whole Time Member will serve for a maximum of five years or until the age of sixty-five, with the possibility of reappointment as per the notification.
The central government will make appointments based on recommendations from the Financial Sector Regulatory Appointments Search Committee (FSRASC), which may also suggest candidates who have not formally applied. Whole-time members are integral to SEBI’s senior leadership, contributing significantly to policymaking, market regulation, enforcement, investigations, and capital market development.
