The Indian government has appointed Finance Secretary Tuhin Kanta Pandey as the new Chairman of the Securities and Exchange Board of India for a three-year term, effective March 1, 2025. This decision comes as Madhabi Puri Buch’s tenure concludes at the end of February.
Pandey, a 1987 batch Indian Administrative Service officer from the Odisha cadre, has held several key positions in the government. Before his role as Finance Secretary, he served as Secretary of the Department of Investment and Public Asset Management , where he was instrumental in overseeing significant disinvestment initiatives, including the strategic sale of Air India.
Madhabi Puri Buch, the outgoing SEBI Chairperson, made history as the first woman to lead the regulatory body. During her tenure, she implemented substantial regulatory reforms aimed at enhancing market transparency and protecting investor interests. Notably, she introduced stricter rules for derivatives trading to safeguard retail investors and advocated for more robust corporate disclosures. Her term also witnessed challenges, such as allegations from Hindenburg Research regarding potential conflicts of interest in SEBI’s investigations into the Adani Group. Both Buch and the Adani Group have denied these claims.
Pandey’s appointment is expected to bring a fresh perspective to SEBI, given his extensive experience in finance and public asset management. His tenure at DIPAM showcased his capability in managing complex financial transactions and policy reforms. As SEBI’s new chairman, Pandey will oversee the regulation of India’s dynamic securities market, ensuring its integrity and fostering investor confidence.
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