The government has appointed Tuhin Kanta Pandey, Finance and Revenue Secretary, as the new chairman of the Securities and Exchange Board of India (SEBI). He will replace Madhabi Puri Buch, who completes her three-year tenure on February 28, 2025.
The Appointments Committee of the Cabinet (ACC) approved Mr. Pandey’s appointment for an initial period of three years, as per the official government notification issued on Thursday evening.
Who is Tuhin Kanta Pandey?
Mr. Pandey, a 1987-batch Odisha-cadre Indian Administrative Service (IAS) officer, has played a significant role in India’s financial sector. As the seniormost officer in the Ministry of Finance handling the Department of Revenue, he was instrumental in shaping India’s economic policies, including the 2025-26 Budget, which provided tax reliefs worth Rs 1 lakh crore to the middle class.
Challenges Ahead for SEBI’s New Chief
Mr. Pandey steps in at a time when the Indian stock markets are experiencing bearish trends due to massive withdrawals by Foreign Portfolio Investors (FPIs). Since January 2025, FPIs have pulled out over Rs 1 lakh crore, exerting pressure on market stability. His leadership will be crucial in maintaining investor confidence and ensuring regulatory stability.
Key Contributions of Tuhin Kanta Pandey
Before his new role, Mr. Pandey served as the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM) from October 24, 2019, to January 8, 2025. Some of his major accomplishments include:
- Privatisation of Air India: He played a pivotal role in the landmark disinvestment of Air India to the Tata Group, which took ownership on January 27, 2022.
- IDBI Bank Privatisation: Under his leadership, the privatisation process of IDBI Bank advanced significantly, with bidders currently undergoing due diligence.
- Public Sector Reforms: He implemented the Public Sector Enterprises (PSE) policy aimed at minimizing government presence in state-owned enterprises.
Academic and Professional Background
Mr. Pandey holds an MA in Economics from Punjab University, Chandigarh, and an MBA from the University of Birmingham, UK. His career spans various administrative roles in Odisha and the central government, including positions in health, transport, commerce, and finance.
What’s Next for SEBI?
With extensive experience in financial governance, Mr. Pandey is expected to bring robust regulatory strategies to SEBI. His tenure will likely focus on enhancing market transparency, ensuring investor protection, and addressing capital market volatility.
As he assumes office, all eyes will be on his approach to tackling market challenges and strengthening India’s financial ecosystem. Investors and industry experts eagerly anticipate his roadmap for SEBI in the coming years.
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