The government has appointed Finance and Revenue Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India for the next three years. This appointment, which the Advisory Committee of the Cabinet supported towards the end of Thursday, marks another shift in the leadership of India’s Capital Markets Regulator.
Pandey, an IAS of 1987 batch from Odisha, succeeds Madhabi Puri Buch whose term ends today, 28th February. Buch, as the first woman chairperson of SEBI in 2022, implemented several transformational reforms aimed at protecting investors, improving the efficiency of regulation, and addressing financial malpractice. Alas, hers was not an entirely smooth sailing tenure, marked as it was by controversies ranging from the Adani money siphoning scandal to the internal employee restlessness.
With Pandey at the helm, the government continues to trust bureaucratic leadership over private sector candidates. His appointment follows another significant move: Sanjay Malhotra’s selection as RBI Governor in December 2024.
A Seasoned Bureaucrat with a Proven Track Record
Pandey, known for his strategic financial expertise, previously served as Secretary of the Department of Investment and Public Asset Management (DIPAM), where he led the privatization process of the Air India. As Finance Secretary since September 2024, he was instrumental in shaping the recent income tax relief measures and the new Income Tax Bill.
With a Master’s degree in economics and an MBA, Pandey’s leadership at SEBI will be closely watched, especially amid evolving market regulations, investor concerns, and digital finance growth. His appointment signals the government’s commitment to a structured and regulatory-driven approach in managing India’s financial markets.
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