UK Sinha takes over as 8th SEBI chairman
Moneylife Digital Team 18 February 2011

Before being selected to head SEBI, Mr Sinha was the chairman and managing director of UTI Mutual Fund, and prior to this, a joint secretary in North Bloc

Upendra Kumar Sinha assumed the office as the chairman of the Securities and Exchange Board (SEBI) today from the outgoing chairman Chandrashekar Baskar Bhave, who had considerably raised the bar of the authority of the institution during his three-year tenure.

As the eighth chairman of the market's watchdog, UK, as he is known among his friends, has a tough task cut out for him, since his predecessor had placed the institution highly above suspicion and had also shown the real powers of SEBI to one and all-especially the mighty.

Before being selected to head SEBI, Mr Sinha was the chairman and managing director of UTI Mutual Fund, and prior to this, a joint secretary in North Bloc (June 2002-October 20052).

Hopefully, the persuasive skills of this 1976 batch IAS officer from the Bihar cadre will come to his aid as while dealing with the government at a time when the latter is seriously planning to clip the financial autonomy of various regulators by forcing them to keep the funds with the Consolidated Fund of India.

Comments
raghwendra
1 decade ago
I am proud to you & congratulate from the home district gopalganj and chitrance family for the hold of new posts. I wish to you for the success of life
ramchandran
1 decade ago
i hope Mr.Sinha turns out to be pro-investor & checks on the maipulative nature of the market participants.
May be he should provision a law which allows investors to file a suite incase of bad governance bringing down the company a la Satyam. Incidently US investors have got $125 million while we indians have been left high & dry
bapoo
1 decade ago
Mr. Sinha is well aware of the reality of present MF industry. He may not be able to reverse the decision of removing entry load which has badly affected large number of distributors of MF Schemes. He can restore the entry load regime for Equity schemes gradually. Also, the exit load structure for Equity category can be revisited and it can be in range of 3%-1st year and then 2%- 2nd year and 1%- 3rd year. This measure would certainly keep the funds invested with long term perspective, thereby causing less volatility with better returns. Also,for ELSS schemes the lock-in period can be raised to 5 years. MF investor should always keep plus 3 years horizon for his precious money to grow on the lines of the famous saying " Rome was not built in a day'.
Madhusudan Thakkar
1 decade ago
His first priority should be to REVIVE mutual fund industry.As a Head of UTI mutual fund he knows the ground reality better and if entry loads are restored mutual fund industry will play very important role in Indian economy.
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