Who is Tuhin Kanta Pandey, the new Sebi chairman succeeding Madhabi Puri Buch?

Tuhin Kanta Pandey takes over from outgoing SEBI chairperson Madhabi Puri Buch, whose term, which began on March 2, 2022, is set to conclude on Friday.

Finance secretary Tuhin Kanta Pandey has been appointed as the new chairman of the Securities and Exchange Board of India (SEBI) for a three-year term, following approval from the Appointments Committee of the Cabinet.

Tuhin Kanta Pandey has been appointed as Securities and Exchange Board of India (SEBI) chief for a term of three years.(REUTERS)

In an official statement, the Department of Personnel & Training said, "The Appointments Committee of the Cabinet has approved the appointment of Shri Tuhin Kanta Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue to the post of Chairman, Securities and Exchange Board of India (SEBI)."

He takes over from outgoing SEBI chairperson Madhabi Puri Buch, who assumed office on March 2, 2022. Her term is set to conclude on February 28, 2025. Buch made history as SEBI’s first woman chairperson and served a three-year tenure.

Who is Tuhin Kanta Pandey, and what key roles has he played earlier?

• Tuhin Kanta Pandey, a 1987 batch IAS officer from the Odisha cadre, holds a Master of Arts degree in Economics from Punjab University, Chandigarh, and an MBA from the UK. He has served in various roles within both the Government of Odisha and the Government of India.
• Early in his career, he worked as executive director & managing director of Odisha State Finance Corporation (OSFC) and Odisha Small Industries Corporation (OSIC). He later held the position of collector and district magistrate of Sambalpur district and served as deputy secretary in the Department of Commerce at the Government of India. During his tenure, he was also deputed to the Regional Office of the United Nations Industrial Development Organisation (UNIDO).
• After returning from central deputation, he took on key responsibilities in Odisha, including special secretary in the general administration department, transport commissioner, health secretary, and commissioner of commercial taxes. In 2009, he was appointed joint secretary in the Planning Commission, where he served for five years, followed by a two-year tenure as joint secretary in the Cabinet Secretariat.
• With expertise in industrial development, financial management, and public finance, he played a crucial role in implementing institutional innovations, new policies, and system reforms. Since September 2016, served as principal secretary of the finance department, Government of Odisha.
• He became the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM), a department under the finance ministry that manages government equity in public sector enterprises, as well as the Department of Public Enterprises (DPE).
• On January 9 this year, he assumed charge of the revenue department after his predecessor, Sanjay Malhotra, moved to the Reserve Bank of India (RBI) as its governor. He played a key role in framing the 2025-26 Budget, which provided tax reliefs amounting to ₹1 lakh crore for the middle class. Additionally, he was involved in drafting the new Income Tax Bill, which aims to replace the 64-year-old Income Tax Act, 1961.
• During his tenure at DIPAM from October 24, 2019, to January 8, 2025, he spearheaded the disinvestment of central public sector enterprises (CPSEs) and implemented the public sector enterprises (PSE) policy, which sought to reduce government involvement in PSEs across various sectors.
• He also played a pivotal role in the privatisation of Air India. On October 8, 2021, the government announced the Tata group as the winning bidder, offering ₹18,000 crore. On January 27, 2022, the Tata group officially took ownership of Air India. He also supervised the privatisation process of IDBI Bank, with bidders currently undergoing the due diligence process.