Tuhin Kanta Pandey will be the next chairperson of SEBI, replacing Madhabi Puri Buch, whose term ends this month. The central government's Appointments Committee of the Cabinet said on Thursday that it had approved Finance and Revenue Secretary Pandey's appointment for the post of SEBI chairman initially for a period of three years. 

His three-year term would be counted from the date of assumption of charge or until further orders, whichever is earlier, said the panel. 

Pandey's appointment comes weeks after India appointed Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), the country's central bank as well as banking regulator.   

Zee Business Managing Editor Anil Singhvi said that afer the new RBI governor, the country's capital markets are also expected to like the new SEBI chief.

Pandey is a 1987 batch IAS officer currently serving as Finance Secretary and Revenue Secretary.

He has also served as Secretary of the Department of Investment & Public Asset Management (DIPAM). 

Pandey has held many significant positions in the central as well as Odisha governments, besides a stint in the Regional Office of the United Nations Industrial Development Organisation (UNIDO).

In the central government, his previous positions include Joint Secretary, Planning Commission (now NITI Aayog), Joint Secretary, Cabinet Secretariat and Deputy Secretary in Ministry of Commerce.

In the Odisha government, he served as administrative head in the Departments of Health, General Administration, Commercial Taxes, Transport and Finance.

He also served as Executive Director of Odisha State Finance Corporation and Managing Director of Odisha Small Industries Corporation.

Shri Pandey holds a Masters in Economics from Panjab University, Chandigarh and an MBA from the University of Birmingham (UK)

The outgoing Chairperson of SEBI, Buch has helmed SEBI for the past three years.

She is the first woman to head SEBI.

Buch has made significant regulatory changes, including tighter rules for India's derivative markets to protect retail investors punting on risky financial products.

She has championed safer small investment options as a way to widen the reach of financial investments, while enforcing tougher disclosures for corporates and fund houses.

Buch has also led the country's capital markets towards same-day settlement.

With inputs from agencies