From Finance Reforms To Market Regulation: Tuhin Kanta Pandey’s Path To SEBI

Tuhin Kanta Pandey, an IAS officer from the 1987 batch of the Odisha cadre, has been appointed the new Chairman of the Securities and Exchange Board of India, succeeding Madhabi Puri Buch. Prior to this, he served as India’s Finance Secretary from September 2024, a role he assumed following the promotion of TV Somanathan to Cabinet Secretary. He was also holding an additional charge of revenue.

Pandey's distinguished career includes key leadership positions such as heading the Department of Investment and Public Asset Management (DIPAM), where he oversaw critical reforms, including the privatisation of Air India and the public listing of Life Insurance Corporation (LIC). He also held roles in the Ministry of Civil Aviation and the Department of Public Enterprises (DPE), contributing significantly to India’s financial and governance strategies.

Pandey holds a master’s in economics from Panjab University and an MBA from the UK. His vast experience in public administration and financial management positions him well to lead SEBI into a new era of regulation and governance.

In January, the government issued an invitation for applications for the position, with a deadline for submissions set for Feb. 17, 2025.

The current Chairperson of SEBI, Madhabi Puri Buch, will conclude her tenure on March 1, 2025. She assumed office on March 2, 2022, for a three-year term, making history as the first woman to lead SEBI. Ms. Buch succeeded Ajay Tyagi, who served as chairperson for a five-year term from March 2017 to February 2022. Prior to Tyagi, UK Sinha held the position for six years, marking a period of extended leadership tenures at SEBI.