NEW DELHI: The government has appointed Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). He will serve a three-year term.
Pandey was Indiaโs longest-serving divestment secretary. He held the post for over five years and oversaw the listing of Life Insurance Corporation of India (LIC), the countryโs largest insurer.
He became Finance and Revenue Secretary in September 2024. In this role, he worked to lower import duties on high-end motorcycles. This move was part of Indiaโs efforts to shed its protectionist image.
He holds a masterโs degree in economics from Panjab University and an MBA from the University of Birmingham.
The 1987-batch Odisha-cadre Indian Administrative Service (IAS) officer, Pandey, replaces Madhabi Puri Buch, whose tenure ended this month.
Buch was the first woman to lead SEBI. She introduced tighter rules for derivatives markets to protect retail investors. She also promoted safer investment options to expand financial participation.
She enforced tougher disclosure norms for corporates and fund houses. Under her leadership, the Indian markets moved towards same-day settlement.
Towards the end of her tenure, Hindenburg Research alleged a conflict of interest in SEBIโs probe into the Adani Group. Buch and Adani denied the claims. SEBI has completed its investigation, but the final orders are yet to be released.
Pandey played a key role in privatization, including the Air India sale to the Tata Group. He also worked on transactions involving BPCL and IDBI Bank.
As SEBI chairman, he is expected to continue regulatory reforms. His experience in finance and investment will shape Indiaโs capital markets.
Pandey was the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM), a department in the finance ministry that manages government equity in public sector companies, as well as the Department of Public Enterprises (DPE).
Pandey played a key role in the framing of the 2025-26 Budget, which gave tax reliefs totaling Rs 1 lakh crore to the middle class. He was also involved in drafting the new Income Tax Bill, which seeks to replace the 64-year-old Income Tax Act, 1961.
Pandey was instrumental in the privatization of Air India. He also oversaw the privatization plans of IDBI Bank.
