New Delhi, Jan 28 (PTI) The government today appointedUTI AMC chief U K Sinha as the Chairman of capital marketsregulator, the Securities and Exchange Board of India (SEBI).
A 1976 batch IAS officer of the Bihar cadre, Sinhareplaces C B Bhave who retires on February 17, 2011.
Sinha has been appointed as SEBI chief for a period ofthree years from February 18, 2011, said a notification issuedby the government today. He will be the eighth chief of SEBI.
"...(Sinha) has been appointed as the Chairman, SEBI,initially for a period of three years with effect from thedate he assumes charge of the post on or after February 18,2011 or till he attains the age of 65 years or until furtherorders, whichever is earlier," it said.
Sinha at present is the chairman and managing directorUTI AMC. He also heads the mutual fund industry body AMFI.
Previously, he had also worked as a joint secretary inthe Ministry of Finance between June 2002 and October 2005. Helooked after capital markets, external commercial borrowings,pension reforms and foreign exchange management functions inthe ministry.
He was also responsible for drafting the SEBI(Amendment) Act, 2002, UTI (Repeal) Act, 2002, the SecuritiesLaw Amendment Act, 2004 and the PFRDA Bill 2005.
He had also been on the boards of several financialinstitutions and banks, including SIDBI, IFCI, Bank of Baroda,Central Bank of India, UTI AMC and the Pension Fund Regulatoryand Development Authority.
He started his career as a probationary officer inState Bank of India and later had a stint as Managing Directorof the State Credit and Investment Corporation at Patna.
He has been associated with UTI AMC since 2005. PTIBSP CS