Hello and welcome to the Current Affair's Portal of ExamPundit.in. U K Sinha will remain Sebi Chairman till March 1, 2017 with the government extending his term for the second time, a move seen as a vote of confidence for continuity at the top amid volatile market conditions.
The extension by over a year for Sinha, approved by Prime Minister Narendra Modi-headed Appointments Committee of the Cabinet, would make him the second-longest serving Chairman of the capital markets regulator Sebi in its over 25-year-history.
Sinha was initially appointed for a three-year term during the UPA regime and was later given a two-year extension. While his current term was to end on February 17, he was eligible for a one-year extension as a person can hold the position of Sebi Chairman till the age of 65, which Sinha would reach next March.
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