The Securities and Exchange Board of India (SEBI) got its first-ever female chairperson named Madhabi Puri Buch. She has been appointed for a three-year tenure and replaced Ajay Tyagi, whose appointment ended on February 28. Buch has been a part of the national market regulator since April 2017, when she first joined as a whole-time member.
Madhabi Puri Buch's appointment comes with a string of firsts for SEBI. Not only did it select the first woman as its chairperson, Buch is the first executive from the private sector to be given the all-important responsibility.
Who Is Madhabi Puri Buch?
Madhabi Puri Buch completed her education in Delhi's St. Stephen's College, after which she went for an MBA at IIM Ahmedabad. According to Live Mint, she joined ICICI Bank as a project finance analyst and became the executive director in 2011. After completing 20 years, she left the company. Then, she went to Singapore and headed a private equity firm called 'Greater Pacific Capital LLP' and to Shanghai as the consultant for the New Development Bank.
Her stint with SEBI began in 2017. In 2021, Buch headed a newly-created committee working on the technology. As reported by Business Standard, the 'Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS) consisted of seven members looking into the modern and technological aspects to detect market anomalies quicker.
Currently, Madhabi Puri Buch's work is cut out as the new SEBI head. Both the domestic and global markets are reeling with the COVID-19's after-effects. While it is recovering, the ongoing Russia-Ukraine crisis is posing a mammoth problem. With her experience in this ambit, the expectations are high when Buch joins the office.
Industry veterans and experts have lauded the decision. One of them told Live Mint, "Her (Buch) interactions with the industry often gave the impression that the regulator is listening even while imposing stringent regulations." Further, her progressive approach in handling any problem and has used her consulting experience to bring about several reforms.