Modi government broke tradition by appointing Madhavi as SEBI chairman despite not being an IAS

Madhabi Puri Butch: A new report by American short-seller company Hindenburg Research has leveled serious allegations against SEBI chief Madhabi Puri Buch and her husband. Madhabi Puri Buch, the first woman chairman of SEBI, has been in this position since March 1, 2022. Before becoming the chairman of SEBI, Madhavi Buch served as a full-time director in SEBI from April 2017 to March 2022.

There was controversy when Madhabi Puri was made SEBI chairman. There is a tradition of appointing an IAS officer as the chairman of SEBI. The Modi government broke this tradition and made non-IAS Madhabi the chairman. Madhabi is the second non-IAS to become the chairman of SEBI. Earlier, the Atal Bihari Vajpayee government had appointed former LIC chairman Gyanendranath Vajpayee as the chairman of SEBI in 2002.

Madhabi has done MBA from IIM-A

Born in Maharashtra in 1966, Madhabi Puri's father worked in the corporate sector while her mother was a professor of political science. Madhabi Puri Buch completed her schooling in Delhi and Mumbai. A graduate from St. Stephen's College, Delhi, Madhabi Puri did her MBA from Indian Institute of Management, Ahmedabad (IIM-A).

Madhabi's career

After completing her MBA, Madhabi Puri Buch was associated with an NGO for some time. In 1981, he joined ICICI Bank as a project finance analyst. After working for three years, he worked as a market research consultant in ORG-Marg. Meanwhile, after working as a lecturer at West Cheshire College in England, he returned to India after getting an offer from abroad. After joining ICICI Securities in 2006, he was the managing director and CEO of the company from February 2009 to May 2011. Madhabi joined Greater Pacific Capital in Singapore in 2011. From 2011 to 2017, Madhabi Puri Buch, who served as an executive director of companies such as Zensar Technologies, Innovan Capital and Max Healthcare, has been an independent director of the Indian School of Development Management (ISDM). Madhabi has also worked as an advisor to the New Development Bank.