Ashwani Bhatia (SBI MD) appointed as SEBI member

The cabinet has appointed Ashwani Bhatia, managing director (MD) of the State Bank of India (SBI), as a whole-time member (WTM) of the Securities and Exchange Board of India (SEBI). According to some sources, the Appointments Committee of the Cabinet (ACC) has also approved Ashwani Bhatia’s appointment as a whole-time member of SEBI for three years from the date of his assumption of the command.

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KEY POINTS:

• According to the sources, with Ashwani Bhatia’s appointment as a Whole-time member, the Securities and Exchange Board of India now only needs to appoint one Whole time member.
• In August 2020, Ashwani Bhatia, who will be retiring in May 2022, that is this year, was promoted to the post of managing director of State Bank of India.

Experience and Background:

• He was the managing director (MD) and chief executive officer (CEO) of SBI Mutual Fund before his promotion to the post of MD of SBI. He was employed with SBI as a probationary officer (PO) in 1985. He has held various posts over his 33-year career at the State Bank of India.
• He has led the charge in overhauling SBI‘s entire credit structure and processes. Madhabi Puri Buch was named the new chairman of SEBI last month, making her the first woman to lead the capital market regulator.

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