Tuhin Kanta Pandey Assumes Fee As SEBI Chairman; Details Here
Tuhin Kanta Pandey assumed charge as the 11th chairman of capital markets regulator Sebi on Saturday. Pandey, a career bureaucrat who has been serving as the finance secretary till now, was appointed chairman of the Securities and Exchange Board of india (SEBI) by the authorities on Thursday.
He replaces Madhabi puri Buch, whose 3-year tenure ended on Friday. Buch, who is reportedly sick, no longer gives gifts, while Pandey arrived.
Wearing a darkish blue blazer and a striped blouse, Pandey arrived at the Sebi headquarters inside the Bandra Kurla complex business district on saturday afternoon.
All four SEBI full-time members, Ashwani Bhatia, Amarjeet Singh, Ananth Narayan, and Kamlesh Varshney, welcomed Pandey at the SEBI headquarters.
Pandey has been appointed SEBI chairman for 3 years.
Pandey will take over as the pinnacle of the SEBI at a time when markets are witnessing enduring pressure following a withdrawal by way of foreign institutional investors (FIIs). Overseas portfolio investors (FPIs) have withdrawn more than Rs 1 lakh crore on account of that January.
The 1987-batch IAS officer is the senior-most officer in the Ministry of Finance handling the department of revenue.
Pandey changed into the longest-serving secretary inside the Department of Funding and Public Asset Control (DIPAM), a department in the finance ministry that manages government equity in public quarter corporations, as well as the Department of Public Businesses (DPE).
He assumed the rate of the sales branch on january 9, after his predecessor Sanjay Malhotra moved to the reserve bank of india (RBI) as its governor. Pandey performed a key position inside the framing of the 2025-26 finances, which gave tax reliefs totaling Rs 1 lakh crore to the middle class. He turned additionally concerned within the drafting of the brand-new earnings tax bill, which seeks to update the sixty-four-year-old income tax act, 1961.
In his over-5-yr stint (October 24, 2019 to january 8, 2025) on the DIPAM, Pandey took forward disinvestments of CPSEs as he carried out the public sector firms (PSE) policy, which meant to minimize the presence of the government in the PSEs throughout all sectors of the financial system.
Pandey became instrumental in the privatization of air India. On october 8, 2021, the authorities declared the Tata organization as the winning bidder for air India.
The conglomerate had installed bids of Rs 18,000 crore. On january 27, 2022, the Tata institution took possession of air India.
Pandey also oversaw the privatization plans of the IDBI bank. The bidders are presently undergoing the due diligence method.
Pandey holds an MA in economics from the punjab university, Chandigarh, and an MBA from the university of Birmingham (UK). He has worked in diverse capacities within the authorities of odisha and the government of India.
In the early part of his profession, Pandey served as the administrative head within the departments of fitness, preferred management, business taxes, delivery, and finance. He additionally served as the govt. director of the odisha Kingdom Finance organization and the dealing director of the odisha Small industries agency.
At the Centre, his previous positions consist of Joint Secretary, making plans (now NITI Aayog), Joint Secretary, cupboard Secretariat, and Deputy Secretary in the Ministry of Trade.
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