U K Sinha selected as SEBI chairman: sources
15 Dec 2010
UTI AMC's U K Sinha has been selected as SEBI chairman replacing CB Bhave. Bhave has not been offered an extension by the Finance Ministry.
Other significant names considered for the top post included R Bandopadhyay, secretary in the Ministry of Corporate Affairs and Madhya Pradesh finance secretary GP Singhal. SBI's OP Bhatt and RBI deputy governor KC Chakrabary were also among those shortlisted, but Bhatt withdrew from the race.
According to sources, Sinha who is currently chairman of the Association of Mutual Funds of India will assume charge on 17 February, 2011 with the end of current chairman CB Bhave's term.
Sinha was a strong contender for the post last time when the government was looking for candidates for the post too, but CB Bhave was preferred over him. Sinha is a Bihar cadre (1976 batch) IAS officer.
Sinha, in an earlier stint had worked in the Ministry of Finance as the joint secretary, in-charge of capital markets, external commercial borrowings, banking and currency and coins.
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