Mumbai, 2 June 2022 : Shri Ashwani Bhatia has taken charge as a whole time member (WTM) at market regulator Securities and Exchange Board of India. He was previously the Managing Director of State Bank of India.
Sheri Ashwani Bhatia has been assigned the responsibility of the department of debt and hybrid securities (DDHS), alternative investment fund and foreign portfolio investors department, market intermediaries regulation and supervision department, corporation finance investigation department (CFID) and office of investor assistance & education (OIAE).
The Appointments Committee of the Cabinet (ACC) had approved Shri Ashwani Bhatia’s appointment in March 2022. However, his joining was delayed due to procedural issues. He has been appointed for an initial period of three years from the date of assuming charge.
In the past, the government has had problems appointing IAS officers for the WTM post. This is because the government has made it mandatory for IAS officers to resign from service before they take up the WTM job at Sebi. Most young IAS officers are only willing to take up the job on deputation so that they can again go back to public service after their WTM tenure ends, which is typically for three or five years.