The Government of India has announced the appointment of Tuhin Kanta Pandey as the new Chairman of the Securities and Exchange Board of India (SEBI). He will serve in this crucial position for the next three years. Pandey, who is currently serving as the Secretary of the Ministry of Finance, will replace the current SEBI Chairman, Madhabi Puri Buch, who will retire on February 28.
Introduction to Tuhin Kanta Pandey
Tuhin Kanta Pandey is an officer of the 1987 batch of the Indian Administrative Service (IAS) from the Odisha cadre. He has held several important positions during his career and is considered one of the busiest and most influential secretaries under the Modi 3.0 government. Pandey was appointed as the Finance Secretary on September 7, 2024, and has contributed significantly to various departments. His administrative skills and experience will further strengthen his role as the Chairman of SEBI.
Changes at SEBI
Madhabi Puri Buch, who is retiring on February 28, took over as the Chairman of SEBI on March 2, 2022. She had previously served as a whole-time member of SEBI and was known for her strict and clear approach, which earned her a distinct reputation. On January 27, the government called for applications for the new SEBI Chairman, and the appointment of Tuhin Kanta Pandey has now been announced.
Tuhin Kanta Pandey’s Responsibilities and Salary
As the new Chairman of SEBI, Pandey will receive the same salary and benefits as a Secretary in the Government of India. He will be paid ₹5.62 lakh 500 per month, excluding government-provided housing and a car.
Career of Madhabi Puri Buch
Madhabi Puri Buch began her career in 1989 at ICICI Bank. She served as the Executive Director at the bank and later worked as the Managing Director and CEO of ICICI Securities. In 2011, she moved to Singapore and worked at Greater Pacific Capital. Buch has over 30 years of experience in the financial sector and has been a part of many important committees within SEBI. She was also a member of SEBI’s Advisory Committee at the time of her retirement.
Impact of the New SEBI Chairman
The appointment of Tuhin Kanta Pandey is expected to bring changes to SEBI’s working style. With his extensive experience in the financial sector and administrative capabilities, Pandey is expected to strengthen SEBI, particularly in ensuring transparency in India’s capital markets and safeguarding investors. His role will be crucial in implementing the changes necessary to promote economic growth and increase investor confidence in the country.
Shashi Rai
