U.K. Sinha has taken over as the chairman of the Securities and Exchange Board of India (Sebi), the capital market regulator, with effect from 18 February 2011.
He took over from C.B. Bhave at a time when the equity market sentiments have been hit hard by inflation and scams. It will be interesting to see how Sinha, a former bureaucrat and head of UTI Mutual Fund, deals with the situation and brings stability in the market.
In his new role, Sinha also has the challenge to live up to the expectation of the mutual fund industry, which has seen a turn in 'fortunes' after the ban on entry load (a charge deducted from the amount invested) came into effect in 2009. Sinha was the chairman of the Association of Mutual Funds in India. The mutual fund industry is hopeful that Sebi would give a patient hearing to its woes.
