India is currently witnessing a wave of ‘women taking charge’. The latest instance of the notion is the latest appointment of the SEBI chairman. On 28 Feb, 2022, the first woman to head the market regulatory watchdog was appointed to the panel and India could not have been more proud.
Say hello to the ‘First woman’ chairperson of SEBI
Madhabi Puri Buch has been appointed as the first woman chairperson of SEBI. Earlier, she was a whole-time member (WTM) at the board and will be the 10th chair of SEBI. She has been appointed as the chairperson of SEBI for a period of three years initially.
What was her past designation?
Before being appointed as the first woman chairperson of SEBI, Madhabi Puri Buch has been a whole-time member at SEBI since April 2017. In 2021, she was appointed as a head of SEBI’s seven-member committee on technology—the Advisory Committee for Leveraging Regulatory and Technology Solutions
What is her background?
Madhabi Puri Buch holds a lucrative professional career where she has donned several hats. She has previously served as the non-executive director of companies like Idea Cellular Ltd, Zensar Technologies and Max Healthcare. She has also headed ICICI Securities as the chief executive for two years. Madhabi Puri Buch is a graduate of St Stephen’s College, University of Delhi, and has pursued her management degree from IIM, Ahmedabad.
Moreover, Madhabi Puri Buch has served as a member on various committees like the National Stock Exchange’s Committee on F&O Segment. She has also been a founding committee member of the Indian Banks Association and been a management committee member of the Bombay Chamber of Commerce and Industry.
What were her prior appointments?
Madhabi Puri Buch served at ICICI Bank for 12 years in various positions.
- Executive Director (2006-2009)
- Head of Marketing and Sales (1997-2002)
- Head of Product Development (2002-2003)
- Head of Operations (2004-2006)
- Head of Brand Marketing (1997-2009)
- Chief Executive Officer (2009-2011)
Her other appointments include:
- Head of Business Development at Greater Pacific Capital, Singapore (2011-2013)
- Non-Executive Director at Idea Cellular (2011-2017)
[Interesting Fact: Madhabi Puri Buch was one of the corporate leaders who were stuck up in Taj Mumbai during the infamous 26/11 attack. During that time, she was the Executive Director at ICICI Bank. During the terror attack, she was with her husband Dhaval Buch (the then Director at Hindustan Unilever Ltd) since the FMCG giant’s top management team was huddled in a board meeting at the hotel.]
What led to her appointment as the SEBI chairperson?
Madhabi Puri Buch replaces Ajay Tyagi as the present chairperson of SEBI. The news of her appointment as the head of India’s capital markets regulator comes during a time when domestic and global markets are undergoing volatility and uncertainty due to several factors. Some of these include the COVID-19 pandemic, central bank policy tightening actions and now the war between Ukraine and Russia.
Meanwhile, in the Indian markets, there has been an influx of new-age retail traders who have become an instrumental part and have found recognition in earlier SEBI statements.
Becoming the first woman chairperson of SEBI
Madhabi Puri Buch became the first woman chairperson of SEBI after replacing Ajay Tyagi whose five-year tenure ended on 28 Feb, 2022. A 1984 batch IAS officer, Tyagi headed the capital markets regulator for the past five years. He was initially appointed in 2017 for three years. Following the completion of his three-year term, Ajay Tyagi was provided a six-month extension, and later his tenure was further extended by another 18 months.
57 years old Madhabi Puri Buch was not only the first woman WTM of SEBI. She was also the first person from the private sector working at the regulator.
Everything you need to know about SEBI and SEBI Chairperson
- What is SEBI? When was it established?
The Securities and Exchange Board of India or SEBI was established in 1988. It is the most important regulator of securities markets in India.
- Who is the head of SEBI?
It is regulated by the Ministry of Finance, Government of India.
- Who appoints the chairperson of SEBI?
The SEBI Chairperson is appointed by the Union Government of India.
- Who are the former SEBI chairpersons?
| Name | From | To |
| Madhabi Puri Buch | 1 March 2022 | Present |
| Ajay Tyagi | 10 Feb 2017 | 28 Feb 2022 |
| U K Sinha | 18 Feb 2011 | 10 Feb 2017 |
| C. B. Bhave | 18 Feb 2008 | 18 Feb 2011 |
| M. Damodaran | 18 Feb 2005 | 18 Feb 2008 |
| G. N. Bajpai | 20 Feb 2002 | 18 Feb 2005 |
| D. R. Mehta | 21 Feb 1995 | 20 Feb 2002 |
| S. S. Nadkarni | 17 Jan 1994 | 31 Jan 1995 |
| G. V. Ramakrishna | 24 Aug 1990 | 17 Jan 1994 |
| Dr. S. A. Dave | 12 April 1988 | 23 Aug 1990 |
- How many board members are there including the chairperson of SEBI?
Including the chairperson, the board of SEBI constitutes 9 members, of which:
- Two members or Officers are from the Union Finance Ministry
- One member from the Reserve Bank of India, and
- Remaining five members are nominated by the Union Government of India (out of them at least three shall be whole-time members).
With Madhabi Puri Buch becoming the first woman chairperson of SEBI, it is indeed a celebratory moment for India.
Also Read: Top 10 Richest Women In The World
