Q. Consider the following statements regarding the Securities and Exchange Board of India (SEBI):
1.The Reserve Bank of India (RBI) is responsible for appointing the Chairperson of the SEBI.
2.The SEBI Chairperson is appointed for a tenure of up to 5 years or until the age of 65 years, whichever is earlier, and is eligible for reappointment.
Which of the statement(s) given above is/are correct?
Answer: B
Notes:
Explanations –
Statement 1 is incorrect. The SEBI Chairperson is not appointed by the Reserve Bank of India (RBI). Rather, the appointment is made by the Central Government on the recommendation of the Financial Sector Regulatory Appointments Search Committee (FSRASC).
Statement 2 is correct. The SEBI Chairperson is appointed for a tenure of up to 5 years or until the age of 65 years, whichever is earlier, and is eligible for reappointment.
Source: The Hindu
