Upendra Kumar Sinha
(born March 2, 1952) is the present chairman of SEBI
. His term starts on February 2011. He is appointed for a period of five years. He was the Chairman and Managing Director (CMD) of the Unit Trust of India Asset Management
Company (UTIAMC), commonly referred to as UTI Mutual Fund
. He is a member of the Indian Administrative Services
(IAS), belonging to the Bihar
Before taking over at UTIAMC, Sinha held key positions in the Government of India
, notably in the Ministry of Finance
, where he was the Joint Secretary, looking after Capital Markets, External Commercial Borrowings
, Banking and Currency and Coins. During his tenure at the Ministry of Finance
, he spearheaded several initiatives, such as the Banking Sector reforms, and the Capital Market reforms.
He now holds the rank of an Additional Secretary to the Government of India, continuing deputation to UTI as its CMD. He also heads various committees set up by the Government of India
, notably the Wheat Procurement Committee and an Advisory Committee working on the guidelines for Mutual Fund investments in the Infrastructure Sector.
Key initiatives at UTI
Sinha has received much recognition for his initiatives as the Chairman of UTI. Key among these include:
- Aligning the salaries of employees to prevalent market levels, taking the company further away from its public sector pay-scale roots and making it more competitive.
- Checking the brain drain of key personnel, and reversing it - hiring top......