Know about Tuhin Kanta Pandey: The 11th Chairman of SEBI

From Finance Ministry to Market Regulator, the New SEBI Chief
India's stock market regulator, the Securities and Exchange Board of India (SEBI), is getting a new chief. Tuhin Kanta Pandey, a veteran bureaucrat with extensive experience in finance and public sector management, has been appointed as the 11th chairman of SEBI, succeeding Madhabi Puri Buch. Buch's three-year term concludes on March 1, 2025, paving the way for Pandey's advent.

Pandey, a 1987-batch Indian Administrative Service (IAS) officer from the Odisha cadre, brings a wealth of experience to the role. His appointment was approved by the Appointments Committee of the Cabinet (ACC) for a three-year term. Most recently, he served as the Finance Secretary and Secretary of the Department of Revenue, making him a key figure in shaping India's economic policies.

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A Career Built on Finance and Reform:
Pandey's career trajectory is a testimony to his expertise in financial matters. Before his stint as Finance Secretary (which he took up in September 2024 after T.V. Somanathan's promotion), he held crucial positions, including:

• Secretary, Department of Investment and Public Asset Management (DIPAM): This is arguably his most defining role, where he oversaw some of the government's most significant disinvestment initiatives.

• Secretary, Department of Public Enterprises (DPE): Further solidifying his experience in managing public sector undertakings.

During his time at DIPAM, Pandey played a pivotal role in:

• The Air India Privatisation: He was instrumental in the landmark sale of Air India to the Tata Group, a major milestone in India's privatization efforts.

• The Ongoing IDBI Bank Privatisation: He spearheaded the process, which is currently in the due diligence phase.

He was also involved in crafting the 2025-26 Union Budget (which included significant tax relief for the middle class) and contributed to the drafting of a new Income Tax Bill intended to replace the existing 1961 Act.

From Bureaucracy to Academia and Back:
Pandey's academic background complements his practical experience. He holds a Master of Arts in Economics from Punjab University and an MBA from the University of Birmingham, UK. His career has seen him serve in various capacities in both state and central governments

The Road Ahead for SEBI:
Pandey's experience in handling large-scale financial restructuring, government finances, and public sector enterprises makes him a seemingly strong choice to lead SEBI. He takes charge at a time when the Indian stock market is facing both opportunities and challenges. His track record suggests a focus on reform and efficiency, which could have significant implications for the future of India's financial markets. Only time will reveal the changes that he is going to implement and steer SEBI.