Govt on lookout for new Sebi whole time member

MUMBAI: The government has started the search for new Sebi whole time member.

The finance ministry has put out a notice inviting applications for the post of whole time member of Sebi as incumbent Prashant Saran will complete his five year term in May 2016.

The government said it will consider applications for the post till March 11,2016 from eligible individuals.

The whole time member of Sebi will be allowed to hold office for a maximum period of five years or till the age of 65 years, whichever is earlier.The person would also be eligible for re-appointment.

The shortlisted candidate would be entitled to opt for a compensation as admissible to an additional secretary to the government, or a consolidated salary of Rs 3.75 lakh per month, the notice said.

The government said the final appointment will be made based on the recommendation of the financial sector regulatory appointments search committee.The panel is also free to identify and recommend any other person also,on the basis of merits,who has not applied for the post.