SEBI Gets New Chief: Tuhin Kanta Pandey To Succeed Madhabi Puri Buch

The government has appointed Tuhin Kanta Pandey as the 11th chairman of the Securities and Exchange Board of India (Sebi), succeeding Madhabi Puri Buch.

Buch’s tenure as Sebi chief is set to conclude on 1 March.

The Appointments Committee of the Cabinet (ACC) has approved Pandey’s appointment for a three-year term.

A 1987-batch IAS officer from the Odisha cadre, Pandey currently holds the positions of Finance Secretary and Secretary in the Department of Revenue.

In September 2024, Pandey assumed the role of Finance Secretary following the elevation of TV Somanathan to Cabinet Secretary.

Before this, he had held key positions in the government, including the secretary of the Department of Investment and Public Asset Management (DIPAM) and secretary of the Department of Public Enterprises (DPE).

In these roles, Pandey played a major part in India’s economic policies, disinvestment programmes, and public sector management. His experience in handling government finances and investments makes him a strong choice for leading Sebi.

Pandey has been involved in some of the most important financial decisions in recent years.

He also played a role in drafting a new Income Tax Bill, designed to replace the long-standing Income Tax Act of 1961.

Pandey is one of the longest-serving secretaries in DIPAM, which is responsible for managing the government’s stake in public sector enterprises.

His tenure at DIPAM saw his active involvement in multiple privatisation initiatives, such as:

Air India’s privatisation: He was a pivotal figure in the sale of Air India to the Tata Group, a landmark disinvestment by the government.

IDBI Bank’s privatisation: He supervised the ongoing privatisation of IDBI Bank, with bidders currently engaged in due diligence.

With extensive expertise in large-scale financial restructuring, Pandey’s leadership at SEBI will be vital as the regulator oversees India’s stock markets and financial institutions.

Pandey holds a Master of Arts in Economics from Punjab University and an MBA from the University of Birmingham, UK.

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