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Bhave to head SEBI

NEW DELHI: The Central Government on Friday appointed National Securities Depository Limited Chairman C. B. Bhave as the new Chairman of the capital market regulator Securities and Exchange Board of India, an official release said.

Mr. Bhave will replace incumbent M. Damodaran whose term expires on February 17. Mr. Bhave will serve the office for three years.

He will be the sixth Chairman of the market watchdog. He had earlier served SEBI as an Executive Director under its first Chairman G. V. Ramakrishna. During his stint as Chairman of NSDL, Mr. Bhave contributed his bit in improving the functioning of the capital market by introducing a paperless system for storing securities. — PTI

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