Mumbai, Feb 18 (ANI): C. B. Bhave today took charge as the new chief of Securities and Exchange Board of India (SEBI), the country's market regulating body.

Bhave was earlier the chairman and managing director of the National Securities Depository Limited, and he takes over from M Damodaran.

Fifty-seven-year old Bhave had earlier served in the Finance Ministry and SEBI. He will be the sixth chairman of the market watchdog.

Bhave is a 1975 batch Indian Administrative Service (IAS) officer from the Maharashtra cadre. He quit the civil service in the mid-1990s to take up an assignment with National Securities Depository Limited. (ANI)