D S Kolamkar and K S Uma have emerged frontrunners for the post of Forward Market Commission (FMC) chairman. Both were associated with the commodity markets regulator earlier.
The tenure of current FMC chairman Ramesh Abhishek will end on July 7, and is unlikely to be extended. The economic affairs department, under the finance ministry, had published an advertisement inviting applications for the post of chairman in April, with a deadline of June 10.
D S Kolamkar has served FMC twice -- first as an FMC economic adviser between November 2006 and July 2007, and as member between 2008 to 2011. |
Kolamkar is a post graduate in economics from Mumbai University. At present, he is posted as director general in labour bureau, Chandigarh.
K S Uma has served as director of FMC between January 2006 to November 2006 and as an economic advisor between December 2008 to April 2011. Uma is at present working as an additional chief economic adviser in the railway ministry. She has done her doctorate from Mumbai University.
After the Rs 5,600 crore NSEL scam, which broke out in July 2013, the government feels FMC chairman's post is as crucial as that of other regulators. The role will involve boosting investor confidence and strengthening commodity markets.
Since FMC chairman's post has been elevated to secretary level by department of economic affairs, Ramesh Abhishek, who's currently an additional secretary, will be promoted as secretary next year.