Tuhin Kanta Pandey takes charge as SEBI's 11th chairperson
What's the story
Tuhin Kanta Pandey has officially taken over as the 11th Chairperson of the Securities and Exchange Board of India (SEBI).
His appointment comes at a time when foreign institutional investors have pulled out over ₹1 lakh crore from the Indian stock market since January 2025.
Pandey, a veteran administrator of Odisha's 1987 IAS batch, replaces Madhabi Puri Buch who ended her term on February 28, 2025.
New leadership
Appointment and vision for SEBI
The Appointments Committee of the Cabinet had formally announced Pandey's appointment as SEBI chairman on February 27, 2025. His term will last for three years.
Speaking to CNBC-TV18, Pandey said he was confident of SEBI as a strong market institution and that trust was the most important thing in its working.
He had listed four objectives for his term: "Trust, Transparency, Teamwork, Technology."
Career highlights
Previous roles and achievements
Before his current role, Pandey was the Finance and Revenue Secretary in the Ministry of Finance since January 9, 2025.
He was pivotal in handling a ₹1 lakh crore tax relief package for the middle class in Budget 2025.
From October 24, 2019, to January 8, 2025, he headed the Department of Investment and Public Asset Management (DIPAM), where he was instrumental in handling government stakes in public sector firms.
Professional journey
Educational background and early career
Pandey has a Master's in Economics from Panjab University, Chandigarh, and an MBA from the University of Birmingham, UK.
His career began in the Odisha government where he held important positions in various departments.
At the Union Government level, he was Joint Secretary in the Planning Commission (now NITI Aayog), Joint Secretary in the Cabinet Secretariat, and Deputy Secretary in the Ministry of Commerce.
Strategic achievements
Pandey's significant contributions to India's disinvestment strategy
Pandey is known for his key role in formulating India's disinvestment strategy, including the successful privatization of Air India and Life Insurance Corporation of India (LIC)'s listing.
His tenure at DIPAM witnessed some of the biggest asset sales in recent years. These include the long-pending sale of Air India to Tata Group and LIC's IPO—the country's largest-ever IPO.