![Madhabi Puri Buch is new Sebi chairperson](https://img-cdn.thepublive.com/fit-in/640x430/filters:format(webp)/connect-gujarat-english/media/post_banners/f7078acc9f072272dde7d67b7616b9f66e7955dc02dad56f911399aba0fc6d39.webp)
The government on Monday announced Madhabi Puri Buch as new the chairperson of the Securities and Exchange Board of India (Sebi). This appointment also marks a departure from the regular practice of hiring Sebi chairmen members who were typically men coming from the public sector or bureaucracy.
This is the first time that a woman and a person from the private sector has been chosen for a key post with the market regulator.
Buch, who was serving as the whole-time member at Sebi till last year and before that was serving at the New Development Bank in Shanghai, has been appointed for a period of three years, the department of personnel and training (DoPT) said in a notification. She has been appointed for a period of three years.
She will replace Ajay Tyagi as the Sebi chief who was a 1984 batch IAS officer of Himachal Pradesh cadre and was appointed as the chairman of Sebi on 1 March 2017, for a period of three years. Subsequently, he was given a six-month extension and later in August 2020, his tenure was extended by 18 months.