Tuhin Kanta Pandey, IAS officer, assumes cost as eleventh SEBI chairman

Tuhin Kanta Pandey assumed cost because the eleventh chairman of capital markets regulator Sebi on Saturday (March 1). Pandey, a profession bureaucrat who was serving because the Finance Secretary until now, was appointed chairman of the Securities and Trade Board of India (Sebi) by the federal government on Thursday (February 27).

He replaces Madhabi Puri Buch, whose three-year tenure ended on Friday (February 28). Buch, who’s reportedly unwell, was not current when Pandey arrived. Wearing a darkish blue blazer and a striped shirt, Pandey arrived on the Sebi headquarters within the Bandra Kurla Advanced enterprise district on Saturday afternoon.

All 4 Sebi whole-time members, Ashwani Bhatia, Amarjeet Singh, Ananth Narayan and Kamlesh Varshney, welcomed Pandey on the Sebi headquarters.

Pandey has been appointed Sebi chairman for 3 years.

Seasoned bureaucrat Tuhin Pandey takes over as SEBI chairman

The federal government on Thursday appointed Finance Secretary Tuhin Kanta Pandey because the eleventh chairman of the capital market regulator, Securities and Trade Board of India (SEBI). The Odisha-cadre Indian Administrative Service (IAS) officer would substitute Madhabi Puri Buch, who completes her three-year tenure on Friday (February 28).

The Appointments Committee of the Cupboard has permitted the appointment of Pandey, IAS (OR:1987), Finance Secretary and Secretary, Division of Income, to the submit of SEBI chairman. 

Pandey’s appointment is initially for a interval of three years from the day he assumes cost, the order mentioned. Pandey took over as the top of the SEBI at a time when markets are witnessing bear strain following a withdrawal by overseas institutional buyers (FIIs). Overseas portfolio buyers (FPIs) have withdrawn greater than Rs 1 lakh crore since January.

The 1987-batch IAS officer is the seniormost officer within the Ministry of Finance dealing with the Division of Income. Pandey was the longest-serving secretary within the Division of Funding and Public Asset Administration (DIPAM), a division within the finance ministry that manages authorities fairness in public sector firms, in addition to the Division of Public Enterprises (DPE).

He assumed the cost of the income division on January 9, after his predecessor Sanjay Malhotra moved to the Reserve Financial institution of India (RBI) as its governor. Pandey performed a key position within the framing of the 2025-26 Funds, which gave tax reliefs totalling Rs 1 lakh crore to the center class. He was additionally concerned within the drafting of the brand new Earnings Tax Invoice, which seeks to interchange the 64-year-old Earnings Tax Act, 1961.

In his over-five-year stint (October 24, 2019 to January 8, 2025) on the DIPAM, Pandey took ahead disinvestments of CPSEs as he carried out the general public sector enterprises (PSE) coverage, which supposed to minimise the presence of the federal government within the PSEs throughout all sectors of the economic system. Pandey was instrumental within the privatisation of Air India. On October 8, 2021, the federal government declared the Tata group because the profitable bidder for Air India.

The conglomerate had put in bids of Rs 18,000 crore. On January 27, 2022, the Tata group took the possession of Air India. Pandey additionally oversaw the privatisation plans of the IDBI Financial institution. The bidders are presently present process the due-diligence course of.

Pandey holds an MA in economics from the Punjab College, Chandigarh and an MBA from the College of Birmingham (UK). He has labored in numerous capacities within the authorities of Odisha and the federal government of India.

Within the early a part of his profession, Pandey served as the executive head within the departments of well being, basic administration, business taxes, transport and finance.

He additionally served as the chief director of the Odisha State Finance Company and managing director of the Odisha Small Industries Company.

On the Centre, his earlier positions embody Joint Secretary, Planning Fee (now NITI Aayog), Joint Secretary, Cupboard Secretariat and Deputy Secretary within the Ministry of Commerce.