Tuhin Kanta Pandey to Head SEBI, Replacing Madhabi Puri Buch

The government has appointed Finance Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). Pandey will serve an initial term of three years, taking over from Madhabi Puri Buch, whose tenure concludes on March 1.

According to an official order, "The Appointments Committee of the Cabinet has approved the appointment of Shri Tuhin Kanta Pandey, IAS, 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 or until further orders, whichever is earlier."

Tuhin Kanta Pandey, an IAS officer of the Odisha cadre, has held key positions in both the central and Odisha state governments. Since October 24, 2019, he has served as the secretary of three different departments under the Ministry of Finance. Most recently, he took charge as the Secretary of the Department of Revenue on January 9 this year.

Pandey holds a postgraduate degree in Economics from Punjab University and an MBA from the University of Birmingham, UK. His extensive experience in financial administration and policy-making makes him a fitting choice to lead the country's market regulator.

Pandey succeeds Madhabi Puri Buch, who made history as the first woman to head SEBI. Buch's tenure was marked by regulatory reforms as well as controversy. A US-based short-seller, Hindenburg Research, which ceased operations in January this year, had accused Buch of a conflict of interest in an investigation concerning the Adani Group's financial dealings. Despite Buch’s denial of these allegations, the controversy had led to widespread calls for her resignation last year.

Prior to Buch, Ajay Tyagi served as SEBI chairman for five years, following the tenure of UK Sinha.