You are here: Home » Markets » News
Business Standard

To strengthen research capabilities, Sebi to hire chief economist

The position of chief economist would be equivalent to that of an executive director of Sebi

Press Trust of India  |  New Delhi 

To strengthen research capabilities, Sebi to hire chief economist

To strengthen its research capabilities, regulator is planning to hire a chief economist, whose position will be equivalent to that of an executive director in terms of pay and benefits.

A proposal in this regard would be discussed during the board meeting of (Sebi) tomorrow, an official said.

It would be a first for to have a 'chief economist', who would be responsible for overall scenario analysis including interplay of various financial sector regulatory activities.

Among others, the officer would be instrumental in strengthening research and database management capabilities and backing regulations and strategy with sound economics.

The position of would be equivalent to that of an in terms of pay, allowances and benefits.

The person would be appointed for a three-year period and get a pay of Rs 55 lakh per annum. The internal and external candidates would be considered for the post.

However, this post will not add to the existing sanctioned number of posts (nine) for executive directors in Sebi.

Currently, the regulator has a dedicated research team under the department of economic policy and analysis. The team maintains statistics for the entire capital market, publishes Sebi's monthly bulletin, annual report, reports on the economic outlook of the country as well as securities

Now, Sebi feels the need of appointing a to utilise its existing resources in a much better way in order to have a multi-pronged approach that connects Sebi's research and analysis functions with overall strategic objectives of the organisation, the official said.

Earlier in 2011, an advertisement was issued by Sebi, inviting applications for the post of However, it received a lacklustre response.

Besides, the selection committee, constituted to scrutinise the applications, could not find a suitable candidate and accordingly the matter was closed.

First Published: Sun, September 17 2017. 11:38 IST