The Centre has appointed Finance secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (Sebi). Pandey has been appointed as Sebi chief for a three-year term, succeeding Madhabi Puri Buch.
Earlier on February 27 the Department of Personnel & Training released an official statement which said that the appointments committee of the cabinet has approved Pandey’s appointment as the new Sebi chief.
"The Appointments Committee of the Cabinet has approved the appointment of Shri Tuhin Kanta Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue to the post of Chairman, Securities and Exchange Board of India (SEBI)," the statement said.
Pandey is set to succeed Buch once her tenure as Sebi chief ends on February 28. Buch became Sebi’s first woman chief after she assumed office on March 2, 2022.
Notably, Pandey is set to assume the mantle as Sebi chief at a time when the Indian stock market is witnessing continuous pressure on account of relentless selloffs by Foreign Institutional Investors and weakening investor sentiments.
Who Is Tuhin Kanta Pandey?
Pandey holds a Master of Arts degree in Economics from Punjab University, post which he pursued an MBA from the University of Birmingham, UK. Pandey joined the Indian civil services in 1987 as an IAS officer from the Odisha cadre.
Early Career
After joining the civil services, Pandey worked as an executive director and managing director of Odisha State Finance Corporation (OSFC) and Odisha Small Industries Corporation (OSIC). Post his stint in the central deputation, Pandey also undertook various roles in the Odisha government serving as the special secretary in the general administration department, transport commissioner, health secretary, and commissioner of commercial taxes
Pandey was appointed as the joint secretary in the erstwhile Planning Commission in 2009. Pandey served for five years as joint secretary in the planning commission. Following which he served for two-years as a joint secretary in the Cabinet Secretariat.
DIPAM Secretary
Pandey also holds the distinction of being the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM). He began his stint at DIPAM in 2019 and continued to serve till 2025. In his nearly six-year long career he led oversaw the disinvestment of public sector enterprises (CPSEs) and sought to decrease government involvement in PSEs across various sectors. Notably Pandey spearheaded the privatisation of Air India and the privatisation of IDBI Bank.
Role As Finance Secretary
Earlier this year on January 9 Pandey assumed charge as Finance secretary with the revenue department. Pandey also contributed significantly to framing the 2025-26 Budget and in revamping the Income Tax Act, 1961 through the introduction of the New Income Tax Bill.
As the new SEBI Chairman Pandey takes charge, analysts are closely watching how Pandey’s leadership will deal with market volatility and work on restoring investor confidence.
