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The Securities and Exchange Board of India (India) on Wednesday announced that Ashwini Bhatia – former Managing Director state Bank of India ,State Bank Of India) – had taken over as the Whole Time Member (WTM) on Tuesday. For the past seven months, the regulator had worked with only two whole-time members, SK Mohanty and Anant Barua.
Madhabi Puri Buch as WTM and G. Mahalingam’s term ended last year. As a result, the posts of two whole-time members in SEBI were vacant. Madhabi Puri Buch was appointed as the chief of SEBI in February this year. However, the government is yet to appoint a fourth member.
In his role as WTM, Bhatia will handle the Department of Debt and Hybrid Securities (DDHS), Department of Alternative Investment Funds and Foreign Portfolio Investors (AFD), Department of Market Intermediaries Regulation and Supervision (MIRSD), Department of Corporate Finance Investigation (CFID). Office of Investor Assistance and Education (OIAE), SEBI said in a statement on Wednesday.
Bhatia was appointed as a member of SEBI by the Appointments Committee of the Cabinet (acc) for an initial period of three years from the date of assumption of his charge in March this year. The veteran banker’s tenure in SBI ended on May 31. Bhatia, prior to his promotion as the MD of SBI, was the Chief Executive Officer and MD at SBI Funds Management.
Bhatia joined the conglomerate of SBI, the country’s largest public lender, in 1985 as a probationary officer. Joining the regulator as WTM, he brings extensive experience in Treasury Operations, Retail Banking, Credit, Investment Banking and Asset Management. In education, Bhatia completed her schooling at Air Force School in Delhi and graduated in Physics and Mathematics from Agra. Apart from this, he is also an MBA from Podar Institute of Management, Jaipur.
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