Outlook Business Desk
Finance Secretary Tuhin Kanta Pandey has been named the 11th chairman of the Securities and Exchange Board of India (SEBI) for a 3 year tenure, after receiving approval from the Appointments Committee of the Cabinet.
In an official statement, the Department of Personnel & Training announced that the Appointments Committee of the Cabinet has approved the appointment of Shri Tuhin Kanta Pandey, IAS (OR:1987), who currently serves as Finance Secretary and Secretary of the Department of Revenue, as the Chairman of the Securities and Exchange Board of India (SEBI).
He said " I received the order yesterday, and the government has assigned me the responsibility. I will go to the SEBI headquarters and join, but I will decide the timing". When asked about his last working day as finance secretary, he replied, "Not yet."
He is taking over SEBI chairperson Madhabi Puri Buch, who took office on March 2, 2022. Her term ends on February 28, 2025.
Madhabi Puri Buch was the first woman to serve as SEBI chairperson. She introduced major changes, including stricter rules for derivative markets to protect retail investors. She has also been a strong advocate for small investment options.
Tuhin Kanta Pandey, a 1987 batch IAS officer from the Odisha cadre, has a master’s degree in economics from Punjab University, Chandigarh, and an MBA from the UK
Early in his career, he was the executive director and managing director of OSFC and OSIC. He later served as the collector and district magistrate of Sambalpur and worked as deputy secretary in the Commerce Department of the Indian government. He was also assigned to the UNIDO Regional Office.
He became the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM), which oversees government equity in public sector enterprises, and the Department of Public Enterprises (DPE) under the finance ministry. He has held various positions in both the Odisha government and the Government of India.