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Who is Tuhin Kanta Pandey? SEBI's newly appointed chairman, replaces Madhabi Puri Buch

Published 2 weeks ago3 minute read

Tuhin Kanta Pandey has been appointed as the 11th chairman of the Securities and Exchange Board of India (SEBI), succeeding Madhabi Puri Buch, whose three-year term ends on March 1, 2025. The Appointments Committee of the Cabinet has approved his appointment for an initial tenure of three years.

A 1987-batch Indian Administrative Service (IAS) officer from the Odisha cadre, Pandey is currently serving as the Finance Secretary and Secretary of the Department of Revenue. His appointment comes at a critical time as the Indian stock market faces significant challenges, including heavy foreign institutional investor (FII) withdrawals. Since January, foreign portfolio investors (FPIs) have pulled out over Rs 1 lakh crore, leading to bearish trends in the market. Investors and analysts are keen to see how Pandey's leadership will influence regulatory policies and market stability.

 Tuhin Kanta Pandey named next SEBI Chairperson

Tuhin Kanta Pandey is an experienced bureaucrat with extensive expertise in financial and economic policy. He holds a Master of Arts in Economics from Punjab University and an MBA from the University of Birmingham, UK. In 2024, he was appointed as Finance Secretary, where he managed four key departments within the Ministry of Finance. He is regarded as one of the most influential secretaries in the Indian government, with a deep understanding of financial markets and public finance.

Throughout his career, Pandey has held crucial positions in the Planning Commission (now NITI Aayog), the Cabinet Secretariat, and various administrative departments in the Odisha government, including Health, Finance, Commercial Tax, Transport, and General Administration. His tenure as the longest-serving Secretary in the Department of Investment and Public Asset Management (DIPAM) is particularly noteworthy, as he played a key role in India's privatisation initiatives, including the historic sale of Air India to the Tata Group.

- Led the strategic disinvestment of Air India, facilitating its takeover by the Tata Group.
- Spearheaded the ongoing privatisation process for IDBI Bank.
- Played a crucial role in shaping the 2025-26 Budget, which provided Rs 1 lakh crore in tax relief to the middle class.
- Contributed to the drafting of a new Income Tax Bill aimed at replacing the Income Tax Act of 1961.
- Held leadership roles in the Department of Public Enterprises (DPI) and the Department of Personnel and Training.
- Worked with the United Nations Industrial Development Organization (UNIDO) in a regional capacity.

The role of the SEBI chairman is crucial in regulating the Indian stock market, ensuring transparency, and protecting investor interests. SEBI oversees securities markets, prevents fraudulent activities, and enforces compliance with financial regulations. Pandey's extensive experience in financial policy and governance is expected to strengthen SEBI’s regulatory framework at a time when market volatility and economic reforms demand proactive leadership.

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