$4 would soon get to see its new chairman as the government has initiated the formal search process.
It has invited applications from interested candidates for the post. The tenure of the current
The advertisement put out by the
The appointment would be made based on the recommendation of a search-cum-selection committee,headed by the cabinet secretary.
"It may however be noted that the search-cum-selection committee is free to identify and recommend any other person also,on the basis of merits who has not applied for the post," the advertisement post on the finance ministry website said.
The $4 would have an option to receive either a fixed pay of Rs 80,000 as admissible to a secretary to government of India or a consolidated salary of Rs 450,000 per month.
Sinha,a Bihar cadre IAS officer, was appointed as the chairman of Sebi in February 2011, succeeding C B Bhave.He was initially appointed for a period of three years and later on his term was extended by another two years.
(Image credits: Indiatimes)