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Government starts search for new Sebi chief: -

Five months before the tenure of Securities and Exchange Board of India (Sebi) Chairman UK Sinha concludes, the central government has begun the search for a new chief. Sinha was given a one-year extension as the government was unable to find a suitable replacement for the position. Inviting applications, the finance ministry said the chairman would be appointed for a five-year period or up to the age of 65 years, whichever is earlier and will be eligible for re-appointment. The applications have been invited till October 21. The chairman shall receive a consolidated pay package of Rs 4.5 lakh a month as recommended by the Seventh Pay Commission and subsequently accepted by government, the notification said. “The appointment shall be made by the central government on recommendation of a search-cum-selection committee... 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

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