Tuhin Kanta Pandey has been appointed as the 11th chairperson of the Securities and Exchange Board of India (SEBI) for a three-year term. He will be succeeding Madhabi Puri Buch, whose three-year term ends today, February 28, 2025. Notably, Buch is the SEBI’s first woman chairperson.
Union ministry of Personnel, Public Grievances and Pensions issued an order in this regard on February 27. The order read, “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), initially for a period of three years from the date of assumption of charge of the post or until further orders, whichever is earlier.”
The Appointments Committee of the Cabinet has approved the appointment of
— All India Radio News (@airnewsalerts) February 27, 2025
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), initially for a period of three years. pic.twitter.com/cZeGZnsdXM
Who Is Tuhin Kanta Pandey?
Pandey became India’s finance secretary in September 2024. He has served as secretary in various key departments, including the Department of Public Enterprises (DPE) and the Department of Investment & Public Asset Management (DIPAM), both under the Ministry of Finance. He also held the position of secretary in the Department of Personnel and Training.
Pandey took over as the secretary of India’s revenue department on January 9, following Sanjay Malhotra’s move to the Reserve Bank of India (RBI) as its governor. Pandey holds a Master’s degree in Economics from Punjab University in Chandigarh, as well as an MBA from the University of Birmingham in the UK.
He also has worked in various capacities in the government of Odisha. For the Central Government, his previous positions were Joint Secretary, Planning Commission (now NITI Aayog), Joint Secretary, Cabinet Secretariat, and Deputy Secretary in the Ministry of Commerce.
Pandey played a crucial role in shaping the Budget 2025, which provided tax relief to the middle class. Furthermore, he was also at the forefront in drafting the new Income Tax Bill, aimed at replacing the outdated Income Tax Act of 1961.
Pandey played a key role in privatizing Air India, with the Tata Group emerging as the winning bidder, after submitting a bid of Rs 18,000 crore. Additionally, He oversaw the privatization plans of IDBI Bank, which is currently undergoing the due diligence process.
What Next?
Pandey is set to take the charge as the head of India’s market watchdog at a very challenging time. The Indian equity markets are currently facing massive pressure due to the consistent withdrawal of funds by foreign investors. Notably, foreign investors have pulled out over Rs 1 lakh crore since January 2025.
