Who Is Madhabi Puri Buch, The First-Ever Woman Chairman Of SEBI?
If you haven’t noticed, SEBI has been in the news for quite a while now. However, this time SEBI has made headlines for some good, positive news. The Securities and Exchange Board of India recently announced its new chairman. Who is it? Well, it is Madhabi Puri Buch. Madhabi Puri Buch is the first woman ever to become the chairman of SEBI and has an initial term of three years. In fact, she is also the first woman to lead a financial regulatory body in the country!
SO, WHO IS MADHABI PURI BUCH?
Madhabi Puri Buch grew up in Delhi, finished her schooling at the Convent of Jesus and Mary, and earned a bachelor’s degree from St. Stephen’s College. She then went on and joined IIM Ahmedabad, after which she joined ICICI Bank as a project finance analyst in Mumbai.
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She later quit ICICI Bank and went on to become a lecturer in the UK and at ORG-MARG. In 1997, Madhabi Puri Buch returned to ICICI Bank and took up multiple projects that had her heading their mortgage section and also became the executive director for consumer and corporate banking. Following this, she later became the CEO of ICICI Securities.
As per reports, in 2011, she shifted to Singapore where she was an independent director in several companies. She continued this until April of 2017 when she was officially appointed as a whole-time member of SEBI.
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WHAT IS THE SIGNIFICANCE OF MADHABI PURI BUCH BECOMING THE CHAIRMAN OF SEBI?
To begin with, Madhabi Puri Buch was a member of SEBI for nearly 5 years but was not given an extension when her term ended in October 2021. So her return signifies the return of a private sector professional who will be at the head of the market regulator that used to previously be under civil servants – the exception being GN Bajpai, who was a former LIC chairman.
Her taking up the position also indicates that the previous chairman, Ajay Tyagi, who was eligible for a fresh term that was under two years, either was denied an extension or reappointed due to the recent situation that came to light with regards to the NSE.
