Seven candidates have been shortlisted to fill the post of two wholetime members at the Securities and Exchange Board of India (SEBI). Their interviews, set for Thursday, were cancelled due to the deteriorating Covid situation, but will be rescheduled in a couple of weeks.

SEBI Chairman Ajay Tyagi, whosefive-year term ends in March, is seeking a one-year extension and the file for the same has started moving at various levels in the government.

Shortlisted candidates

According to sources, among the shortlisted candidates for WTM posts include three SEBI Executive Directors, a high ranking officer of State Bank of India, an Additional Secretary in the Finance Ministry and one Member each from the Insurance Regulatory Development Authority and the Pension Fund Regulatory and Development Authority.

With Tyagi getting a say in the appointment of the two WTMs, speculation is rife among bureaucrats that he will be given an extension. The Prime Minister’s Office, guided by the Cabinet committee, will take a final call. Tyagi’s predecessor, UK Sinha, too, got an extension after his five-year term.

Entry-level recruitment

Every year SEBI hires around 80 entry-level candidates in various departments. This year, too, the regulator will recruit as many and advertisements have been placed in various newspapers.Of the 80 candidates being hired by SEBI in the general stream at the entry level, 32 will be in the unreserved category. The rest will be from the reserved category and include OBC, ST, and others.

In the Legal Department, out of the 16 candidates, 11 will be in the unreserved category.

In the reserved category, SEBI also has to carve out positions for economically weaker sections. The annual package of an entry-level SEBI post works out to ₹18-22 lakh, which experts say is the best that any regulatory body in the country pays.

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