However, he is yet to join the markets regulator. Kaushik has handled the capital markets in the Department of Economic Affairs, where he was responsible for the policy matters related to current account management, foreign institutional investments, external commercial borrowings and foreign exchange management. He has also worked closely with the Sebi and Reserve Bank of India (RBI).
The Securities and Exchange Board of India (Sebi) had written to the finance ministry recommending that a fourth position of whole time member be created and the post should be filled up on priority basis. The recommendation has been accepted by the ministry last month, officials said. As per the Sebi Act, the board comprises a chairman, one member each from the finance ministry, corporate affairs and RBI, besides, five other members of whom at least three should be the whole-time members.
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