FROM March 1, the Securities and Exchange Board of India (SEBI) will have a new chairman: 1984 batch Himachal Pradesh cadre IAS Ajay Tyagi. The Appointments Committee of the Cabinet (ACC) on Friday not only cleared Tyagi’s name as the new Sebi chief but gave him a full five years tenure. Tyagi will take over from incumbent UK Sinha who is currently on extension. Here are 10 things to know about Tyagi:1. Hailing from Uttar Pradesh, Tyagi is a Himachal Pradesh cadre IAS.
2. A 1984 batch IAS, Tyagi is currently an additional secretary (investments) in the department of economic affairs under the ministry of finance.
3. A B.Sc in electronics and M.Sc in computer science, Tyagi is also a post-graduate in economics too.
4. Before moving to the ministry of finance, he was a joint secretary in the ministry of environment and forests (2012-14).
5. In 1990s too, he was with the Centre on a deputation. He then served as deputy secretary in the department of rural development and then in the ministry of steel.
6. Between 1995 and 1996, he was a private secretary to the then rural development minister.
7. In yet another deputation with the Centre, he was director and then joint secretary in the ministry of petroleum and natural gas.
8. In the state, Tyagi served as deputy commissioner in Sirmaur district and also worked in various ministries ranging from the ministry of home to the department of science and technology.
9. Tyagi will turn 60 in coming October, but he will get a full 5-year-term as SEBI chief. It’s a rarity that an officer is given a 5-year-term as SEBI chief at one go.
10. Power secretary PK Pujari is believed to be his main contender for clinch the post of SEBI chairman. But Tyagi finally piped Pujari.