The government has extended by 18 months the term of Ajay Tyagi, the chairman of the Securities and Exchange Board of India (SEBI).
Tyagi’s term has been extended with effect from September 1 until February 28, 2022, the Department of Personnel and Training said in a notice.
Tyagi, an Indian Administrative Service officer of the 1984 batch, had taken over as the SEBI chief in March 2017. He succeeded Upendra Kumar Sinha.
Before his appointment as the SEBI chief Tyagi was in charge of capital markets at the finance ministry’s department of economic affairs from 2014 to 2017.
The 18-month extension comes at a time when the coronavirus pandemic has turned capital markets volatile.