SBI MD Ashwani Bhatia appointed Sebi member

The government has appointed veteran banker Ashwani Bhatia as the whole time member of the Sebi.

Bhatia, who is currently the Managing Director of stressed assets and information technology at State Bank of India, has been appointed for a period of three years.

Prior to his elevation as MD of SBI, Bhatia was the chief executive of SBI Mutual Fund. Bhatia, who started his career with SBI in 1985 as a probationary officer, will retire on May 31,2022.

The positions of two whole-time members at Sebi were vacant at Sebi, after the tenures of G Mahalingam and Madhabi Puri Buch ended last year. Buch was appointed as the Sebi chairperson last month. The other two whole-time members on the board of Sebi are SK Mohanty and Ananta Barua.

The government has also nominated two officials to the regulator’s board. Ajay Seth, secretary, Department of Economic Affairs (DEA) has been appointed in place of Anand Mohan Bajaj, additional secretary, DEA. The government has nominated Rajesh Verma, secretary, Ministry of Corporate Affairs (MCA) in place of KVR Murthy, joint secretary, MCA.