The application window will be open till May 28
| Photo Credit:
REUTERS

With current Securities and Exchange Board of India (SEBI) whole-time member (WTM) Ashwani Bhatia’s three-year term coming to an end on May 31, the Ministry of Finance has invited applications for a new WTM by May 28.

The job advertisement, published by the department of economic affairs (DEA) under the Ministry of Finance stated, “The appointment shall be made for a maximum period of five years from the date of assumption of charge or till attaining the age of 65 years of the appointee, whichever is earlier. The whole-time member shall have an option to receive pay – (a) as admissible to an additional secretary to the government of India; or (b) a consolidated salary of ₹5 lakh per month (without house and car).”

Eligible candidates must have a minimum experience of 20 years and knowledge of law, finance, economics, accountancy, or any sectors helpful to the SEBI Board. The candidate must also have integrity, a strong reputation, and the ability to address securities market problems. The WTM must also not have any financial or other interests that could prejudice their duties, stated the advertisement.

Currently, the capital market regulator has four WTMs—Ashwani Bhatia, Ananth Narayan, Kamlesh Varshney, and Amarjeet Singh. Of these, Bhatia and Ananth Narayan’s terms end in 2025 (Narayan’s term ending in September).

Bhatia, who joined SEBI in June 2022, is in charge of the Corporation Finance Investigation Department, Department for Debt and Hybrid Securities, and the Corporation Finance Department. He has handled key issues regarding small and medium enterprises, uncovered corporate frauds, fund diversion, and market malpractices during his tenure.

Previously, Bhatia served as the MD at State Bank of India for over three-and-a-half decades. Prior to this, he served as the MD & CEO of SBI Funds Management. 

Published on April 30, 2025