Sinha gets another year as Sebi chief

Sinha gets another year as Sebi chief: U K Sinha, chairman of the Securities and Exchange Board of India (Sebi), regulator for the capital and commodity markets, has been given a year more in the job.He was appointed for a three-year term in 2011 and this was extended for two years in




Welcome
move
Apropos the report “U K Sinha gets another year as Sebi chief’ (Business Standard, February 16), while the extension of Sinha’s term is a welcome move, it would have been more graceful, if Government puts in place a transparent and professional system for appointments and succession plans for top level in government, statutory bodies and PSUs. This observation is in the context of the destabilisation effect the kind of media reports about Government considering various other options before deciding a relatively short-term one year extension for the highest position in SEBI.
One is aware of several measures the present government is considering to infuse professionalism and continuity in governance. The proposal to induct credible and distinguished industry leaders to Bank Board bureau is one such measure. Instead of poaching at times of need and picking and choosing from among efficient professionals doing well in their existing positions destabilising the offices/institutions
they work for, Government should think in terms of maintaining a talent pool from which selections can be made at times of need.
A related issue is ensuring continuity at top positions by making appointments for longer tenures. For this, necessary legislative changes where necessary for age relaxation should be thought of.

M G Warrier, Mumbai

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