Ajay Tyagi (IAS:1984:HP) has been picked as new Chairman of Securities and Exchange Board of India (SEBI) for a period of five years or till the age of 65 yrs. Currently he serves as Additional Secretary, Dept of Economic Affairs. He will take over the charge from U K Sinha on March 01. It may be mentioned that Tyagi's retirement was scheduled for December 2018 but having got appointed as SEBI chief he will continue in job till February 2021. The process for choosing the next Sebi chief started in September 2016 and the Government received many applications. Generally, the Sebi Chairman is appointed for five years or up to the age of 65 years, whichever is earlier. He is also eligible for re-appointment Sinha took charge as Sebi Chairman on February 18, 2011. Initially he was appointed for a three-year term ending 17 February 2016. Just days before his extended term was to end on February 17, 2016 the NaMo administration approved his re-appointment to the position from February 18 till March 1, 2017. As SEBI Chairman Tyagi wil get consolidated pay package of Rs 4.5 lakh per month. Web-links: Click to read our previous exclusive stories  Shaktikanta ruled out for SEBI; may get Member GST Councilor CAG post (17 Jan 2017)  http://www.indianmandarins.com/shaktikanta-ruled-out-for-sebi-may-get-member-gst-councilor-cag-post/