The government has appointed State Bank of India (SBI) managing director Ashwani Bhatia as a whole-time member (WTM) of the Securities and Exchange Board of India (SEBI).
The appointment of Bhatia has been endorsed by the Appointments Committee of the Cabinet (ACC) as a member initially for a period of three years from the date of assumption of charge, said the sources. As per the sources, with Bhatia getting appointed as whole-time member, now there is only one post of WTM left to be filled in SEBI.
An order from the ministry reads, "The Appointments Committee of Cabinet has approved the appointment of Shri Ashwani Bhatia, Managing Director, State Bank of India, to the post of Whole-Time Member (WTM), Securities and Exchange Board of India (SEBI), initially for a period of 3 years from the date of assumption of charge of the post, or until further orders, whichever is earlier", reported by Money Control.
From PO of SBI to WTM of SEBI
With due retirement in May this year, Bhatia was promoted as the managing director of SBI in August 2020. Earlier, he was taking up the responsibilities as the managing director and chief executive officer of SBI Mutual Fund.
In 1985, Bhatia began his career with SBI as a probationary officer. Over a time frame of 33-years with SBI, he has lead in revamping the entire credit structure and processes of SBI.
The New Chairperson of SEBI
Last month, Madhabi Puri Buch was appointed by the government as the new chairperson of SEBI. She is the first woman to head as the capital market regulator.