G N Bajpai retires as SEBI chief

G N Bajpai, who has retired on completion of his three-year term as the chairman of Securities and Exchange Board of India, (SEBI).. Bajpai was earlier the chairman of the Life India Corporation of India. Bajpai is credited with streamlining the securities watchdog and market regulator.

Under his stewardship, SEBI improved its procedures for enforcing compliance to ensure market integrity and for protecting the interests of investors and India became one of the few countries to introduce 'straight through processing' (STP) in the stock market.

It was during his tenure that the derivatives market in equities has grown and developed.