Tuhin Kanta Pandey appointed as the 11th chairperson of SEBI for a 3-year term
Tuhin Kanta Pandey appointed as the 11th chairperson of SEBI for a 3-year term
Digital Desk: Tuhin Kanta Pandey, India's Finance Secretary, has been appointed as the 11th chairperson of the Securities and Exchange Board of India (SEBI), serving a three-year tenure.
Pandey will succeed Madhabi Puri Buch, who will leave SEBI's first woman chairwoman position on February 28, 2025, after three years.
The government's Appointments Committee of the Cabinet accepted Pandey's nomination, which would take effect immediately.
Pandey will take over as head of the market watchdog as the Indian stock market faces bearish pressure due to ongoing fund withdrawals by foreign institutional investors (FIIs). Foreign portfolio investors (FPIs) have withdrawn about ₹1 lakh crore since January 2025.
Pandey was the longest-serving secretary in the Finance Ministry's Department of Investment and Public Asset Management (DIPAM), which administers government stock in public-sector businesses, as well as the Department of Public Enterprises.
On January 9, he took over India's revenue department after his predecessor, Sanjay Malhotra, was appointed governor of the Reserve Bank of India (RBI).
Pandey drafted Budget 2025, which included ₹1 lakh crore in tax reliefs for the middle class. He helped develop the new Income Tax Bill, which aimed to replace the 64-year-old Income Tax Act of 1961.
