Ajay Tyagi was on Wednesday given an 18-month extension, till February 2022, as the chairman of market regulator Sebi, according to a personnel ministry order.

This is the second extension given to Tyagi. It comes at a time the economy and capital markets are staring at uncertainties because of the coronavirus pandemic.

The Appointments Committee of the cabinet headed by Prime Minister Narendra Modi approved Tyagi’s extension, with effect from September 1, 2020.

Tyagi took over as the Sebi chairman on March 1, 2017 for a period of three years. Earlier this year, he was given a six-month extension till August.

Prior to joining as the chief of the markets regulator, Tyagi was Additional Secretary, Department of Economic Affairs under the Finance Ministry.

He was then handing the portfolios of capital market, investment, infrastructure and currency and coinage divisions.

Tyagi did his graduation in Electrical Engineering and post graduation in computer science. He holds a Masters in Public Administration from Harvard University.