Tuhin Kanta Pandey, the current Finance Secretary, has been appointed as the new chairman of the Securities and Exchange Board of India (SEBI). He will take over the role for a three-year term, replacing Madhabi Puri Buch, whose tenure is coming to an end this month.
Challenges Ahead for Pandey at SEBI
Mr. Pandey is stepping in at a crucial time. The Indian stock markets have been experiencing a downturn, primarily due to massive withdrawals by Foreign Institutional Investors (FIIs). Since January, foreign investors have pulled out over Rs 1 lakh crore, creating volatility in the market.
SEBI is actively working on expanding regulated investment opportunities for investors while also introducing measures to control market fluctuations and curb malpractices in the derivatives segment. Pandey’s leadership will be key in shaping these regulatory changes.
Who Is Tuhin Kanta Pandey?
Tuhin Kanta Pandey is a seasoned bureaucrat and an IAS officer from the 1987 batch of the Odisha cadre. With decades of experience in financial and economic policy-making, he brings deep expertise to his new role at SEBI.
Here are some key highlights of his career:
- Finance Secretary (2024–Present): Pandey was appointed Finance Secretary in September 2024 and has been a driving force in the government’s economic strategies.
- Divestment Expert: He served as the longest-serving Secretary of the Department of Investment and Public Asset Management (DIPAM), overseeing major privatization and asset management decisions.
- Key Government Roles: Throughout his career, he has held various crucial positions, including District Collector of Sambalpur, Deputy Secretary in the Ministry of Commerce, and Joint Secretary at the Planning Commission. He also had a brief stint in the Ministry of Civil Aviation.
- Major Contributions:
- He played a pivotal role in the listing of Life Insurance Corporation of India (LIC), the country’s largest insurer.
- He was instrumental in the historic sale of Air India to the Tata Group in January 2022, a landmark privatization move.
- Educational Background: Pandey holds a master’s degree in Economics from Panjab University, Chandigarh, and an MBA from the University of Birmingham.
With his extensive experience in finance and policy-making, Pandey is expected to bring a strategic vision to SEBI, guiding India’s capital markets through evolving challenges and opportunities.
