The Securities and Exchange Board of India (SEBI), responsible for capital markets in India, has appointed Finance Secretary Tuhin Kanta Pandey as its chairman.
The employment tenure of Mr. Pandey shall be three years. He will take over from Madhabi Puri Buch, who will be completing her tenure this month.
Tuhin Kanta Pandey is taking charge of SEBI at a time when stock markets are plunging due to the pulling out of foreign institutional investors (FIIs). Since January, FPIs have taken a net outflow of close to Rs 1 lakh crore.
Furthermore, SEBI is working to increase the availability of various regulated financial investment options for investors, apart from attempts at reducing volatility and malpractice in derivative marketing.
Who is Tuhin Kanta Pandey?
The IAS officer Mrs. Tuhin Kanta Pandey is the 1987 Odisha cadre officer batch to have as one of the members. He has been appointed as Secretary for Finance in September 2024. Secondly, he held the longest-holding position of divestment secretary.
Besides this, Mr. Pandey was the head of the Department of Public Asset Management and Investment (DIPAM). Before that, he worked with the Planning Commission in the capacity of joint secretary, deputy secretary in the Ministry of Commerce, and Sambalpur’s district collector. He also had a brief stint in the Ministry of Civil Aviation.
The Life Insurance Corporation of India, the largest insurer in India, was issued without issue listing primarily due to Tuhin Kanta Pandey.
He has also been responsible for the government’s decision to sell Air India to Tata Group in January 2022.
Mr. Pandey has an MBA from the University of Birmingham and holds an MSc in Economics from Punjab University in Chandigarh.
Tuhin Kanta Pandey shall hold the chair for a term of three years. He is replacing Madhabi Puri Buch.
Also read: Who is C. V. Raman?