New Delhi: The government has appointed Finance Secretary Tuhin Kanta Pandey as the new Chairman of the Securities and Exchange Board of India (SEBI) for an initial three-year tenure. The Appointments Committee of the Cabinet (ACC) confirmed the decision, replacing Madhabi Puri Buch, whose term ends on March 1.
Key Contenders and Selection Process
The Centre invited applications for the SEBI Chairman position in January, with a deadline set for February 17, 2025. Pandey was selected from a list of candidates that included Ajay Seth (Secretary, Department of Economic Affairs), Pankaj Jain (Secretary, Ministry of Petroleum and Natural Gas), and KC Varshney (Whole-Time Member, SEBI).
Madhabi Puri Buch, who became SEBI’s first female Chairperson in 2022, completes her three-year term on March 1. Before her, Ajay Tyagi led SEBI for five years, while UK Sinha served a six-year tenure.
Who is Tuhin Kanta Pandey?
A 1987 batch IAS officer from the Odisha cadre, Pandey currently serves as Finance Secretary and Revenue Secretary. In his brief tenure as Revenue Secretary, he played a role in overhauling income tax slabs and the customs duty structure in the latest budget. He also led the drafting of the new Income Tax Bill, which is under parliamentary review.
Prior to this, he headed the Department of Investment and Public Asset Management (DIPAM), overseeing key disinvestment projects, including the privatization of Air India and the listing of Life Insurance Corporation (LIC). He also held senior roles in the Department of Public Enterprises and the Department of Personnel and Training.
Experience in Finance and Administration
He has extensive experience in financial administration and policymaking. At the central level, he has worked with the Planning Commission (now NITI Aayog), the Cabinet Secretariat, and the Ministry of Commerce. In Odisha, he held leadership roles in the Departments of Finance, Transport, Health, and General Administration.
Academically, he holds a Master’s degree in Economics from Punjab University and an MBA from the UK. His career includes a stint with the United Nations Industrial Development Organisation (UNIDO), adding an international dimension to his expertise.
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