Sebi invites applications to hire 24 officials in IT department

Capital markets regulator Sebi on Thursday invited applications for as many as 24 senior-level executives in the information technology department.

The recruitment drive would beef up the headcount at the Securities and Exchange Board of India (Sebi) for faster and more effective execution of its regulatory role.

While inviting applications, Sebi has cautioned candidates against falling prey to any unscrupulous elements who may try to deceive them by false promises of securing jobs in the regulator, according to a public notice.

In case any candidate comes across such an offer, the same may be immediately brought to the notice of the regulator with full details, such as name and contact details, of the elements indulging in such practice.

In its notice, Sebi has invited applications from Indian citizens for the post of Officer Grade A (Assistant Manager) in the Information Technology stream.

The markets regulator had earlier invited applications for the recruitment of 120 Officer Grade A (Assistant Manager) in different streams.

Before that, in March 2020, the regulator invited applications for 147 senior-level officials and around 1.4 lakh people applied for these positions.

Candidates can apply for the posts through online mode till July 31. The regulator will conduct examinations for the recruitment of these positions during August-September.

To apply for this position, the applicants are required to have a bachelor's degree in engineering in any discipline or a bachelor's degree in any discipline with a post-graduate qualification in computer application or information technology from a recognised university or institute.

Formed by the government in 1988, Sebi was given statutory powers after the passage of the Sebi Act in 1992 after the Harshad Mehta scam 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.