Tuhin Kant Pandey Appointed Chairman Of SEBI
He has succeeded Madhabi Puri Buch
Former Secretary in the Ministry of Finance, Tuhin Kant Pandey, 59, has been appointed Chairman of the Securities and Exchange Board of India (SEBI) for a three-year term.
On assuming charge at the SEBI headquarters in the Bandra Kurla Complex business district, Pandey emphasized trust, transparency, teamwork and technology in the capital market.
He added, “These four elements make us distinctive. We have created and will continue to create one of the best market institutions in the world.”
He termed SEBI a ‘robust market institution’ built over the years by successive leaders.
Pandey succeeded Madhabi Puri Buch, who faced allegations of impropriety during the end of her term. Buch is known to be suffering from Covid infection.
Of late, the organization witnessed unprecedented activity, with a large section of its employees, protesting the management.
SEBI’s whole-time members Ashwani Bhatia, Amarjeet Singh, Ananth Narayan and Kamlesh Varshney, welcomed the Odisha cadre 1987-batch Indian Administrative Service (IAS) officer.
Pandey has taken over the reins of SEBI when markets are witnessing bear pressure following a withdrawal by Foreign Institutional Investors (FIIs). The FPIs withdrew over Rs.1 lakh crore since January.
He is the longest-serving Secretary in the Department of Investment and Public Asset Management (DIPAM), a division in the finance ministry. It manages government equity in public sector companies and the Department of Public Enterprises (DPE).
He assumed charge of the revenue department on 9 January, after his predecessor Sanjay Malhotra moved to the Reserve Bank of India (RBI) as its governor.
Pandey played a key role in framing the Union Budget 2025-26, which provided tax relief of Rs.1 lakh crore to the middle class. He also drafted the new Income Tax Bill, which will replace the 64-year-old Income Tax Act, 1961.
The bureaucrat was instrumental in the privatization of Air India and its sale to Tatas. His stint at DIPAM saw fewer asset sales but more focus on the asset management aspect.
Pandey holds an MA in economics from the Punjab University, Chandigarh and an MBA from the University of Birmingham (UK). He has worked in various capacities in Odisha and the Government of India.
Early in his career, he served as the administrative head in the departments of health, general administration, commercial taxes, transport and finance. He also served as the executive director of the Odisha State Finance Corporation and managing director of the Odisha Small Industries Corporation.
At the Centre, he held positions as Joint Secretary, Planning Commission, Joint Secretary, Cabinet Secretariat and Deputy Secretary in the Ministry of Commerce.