Senior IAS officer Ajay Tyagi appointed SEBI Chairman

New Delhi: The central government on Friday appointed senior Indian Administrative Service (IAS) Officer Ajay Tyagi as the Chairman of securities market regulator SEBI.

Tyagi, a 1984-batch IAS Officer from Himachal Pradesh cadre who presently holds the portfolio of Additional Secretary, Department of Economic Affairs in the Ministry of Finance, will succeed U.K. Sinha, whose extended tenure ends on March 1, 2017.

"The Appointments Committee of the Cabinet (ACC) has approved the appointment of Ajay Tyagi, IAS, Additional Secretary, Department of Economic Affairs, to the post of Chairman, SEBI," the Ministry of Personnel, Public Grievances and Pensions said in a statement.

According to the ACC, the appointment has been made for a period of five years or till the age of 65 years or until further orders, whichever is the earliest.