Sebi to hire 49 officers; invites application after 2-month delay

New Delhi: Capital markets watchdog Sebi on Tuesday initiated the process to hire 49 officers in different departments this year, a move that will help in faster and more effective execution of its regulatory role.

This came after the Securities and Exchange Board of India (Sebi) invited applications in March for the 97 senior-level posts.

The link for submitting the application online was originally scheduled to open on April 13. However, it was decided to postpone the same due to the schedule of the General Elections.

Now, in a fresh notice on Tuesday, Sebi has invited applications for 49 posts of Officer Grade A (Assistant Manager) for General, legal, information technology, engineering electrical, research and official language streams.

The link for submitting the application online will be open till June 30.

The regulator is looking to fill 34 positions in the General stream, 10 in information technology, two in the legal team and one each in engineering (electrical), research and official language departments.

Selection will be carried out in three phases beginning July 27.

Sebi has been beefing up its headcount over the last few years. In July 2022, the regulator invited applications for 25 senior-level executives in the information technology department.

In January 2021, the markets regulator invited applications for the recruitment of 120 Officer Grade A (Assistant Manager) in different streams. In March 2020, the regulator invited applications for 147 senior-level officials and around 1.4 lakh people applied for these positions.

Formed by the government in 1988, Sebi was given statutory powers following the passage of the Sebi Act in 1992 after the Harshad Mehta scam that hit the Indian markets. As per its preamble, Sebi is mandated to protect the interests of investors in securities as well as promote and regulate the securities markets.

It regulates business in stock exchanges and other securities markets, registers and regulates various market intermediaries, including brokers, merchant bankers, registrars, portfolio managers and investment advisers, as well as foreign portfolio investors, credit rating agencies, mutual funds and venture capital funds.

Besides, Sebi is mandated to check fraudulent and unfair trade practices, insider trading and other manipulative activities.