Government Invites Applications for Two Full-Time Members at SEBI

New Delhi, June 2: The government has announced the invitation for applications for two full-time member (WTM) positions at the Securities and Exchange Board of India (SEBI). The Department of Economic Affairs (DEA) has set the deadline for submitting applications as June 30.

According to a notification issued by the DEA, which operates under the Finance Ministry, selected candidates will have the option to receive a salary equivalent to that of an additional secretary in the government or a consolidated salary of ₹5 lakh per month, excluding housing and vehicle facilities.

Currently, SEBI has four full-time members: Amarjeet Singh, Kamlesh Chandra Varshney, Sandeep Pradhan, and K.V.R. Murthy. Singh and Varshney’s three-year terms are set to expire in September; however, both are eligible for reappointment, subject to the age limit of 65 years.

The notification states that the government is seeking candidates with qualifications, integrity, and reputation, as well as expertise in securities markets, law, finance, economics, accounting, administration, or related fields. Given SEBI’s role as a market regulator, candidates with over 20 years of professional experience and aged between 45 to 60 years are preferred.

Applicants from government departments, public sector undertakings, educational institutions, and research organizations are required to submit their annual performance appraisal reports (APAR) from the last five years, vigilance clearance, integrity certificates, and details of any penalties imposed.

The notification further states, “Full-time members will remain in their positions for the specified term, which shall not exceed five years, provided they do not continue beyond the age of 65 years (whichever comes first) and are eligible for reappointment.”

Appointments will be made based on recommendations from the Financial Sector Regulatory Appointment Search Committee (FSRAS), which may also identify and recommend candidates who have not formally applied.

Full-time members are part of SEBI’s senior leadership and play a crucial role in policy-making, market regulation, enforcement, investigation, and capital market development.