Tuhin Kanta Pandey, the Finance and Revenue Secretary, has been appointed as the new chairman of the Securities and Exchange Board of India (SEBI). His tenure will span three years, succeeding Madhabi Puri Buch, whose term concludes on February 28. This decision was confirmed by the Appointments Committee of the Cabinet on Thursday.
A seasoned bureaucrat takes charge
Pandey, a seasoned IAS officer, has held key positions in public finance and asset management. His appointment also follows with the recent selection of IAS officer Sanjay Malhotra as the Governor of the Reserve Bank of India (RBI) in December 2024.
Industry veterans give a thumbs up
Navneet Munot, CEO of HDFC Asset Management Company, highlighted Pandey’s expertise in financial reforms and asset management. Munot, who has interacted with Pandey in the past in the context of DIPAM (Department of Investment and Public Asset Management) feels, “he has led key financial reforms and disinvestment initiatives, including the successful sale of Air India and the public listing of Life Insurance Corporation (LIC). His extensive experience in public finance and asset management positions him well to lead SEBI in regulating and developing India’s capital markets.”
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Before stepping into his new role at SEBI, Pandey played a key role in India’s economic reforms and disinvestment strategies. He was instrumental in major privatisation efforts, including the historic sale of Air India to the Tata Group.
Under his leadership, the government successfully transferred ownership of the airline on January 27, 2022, after Tata won the bid with an Rs 18,000 crore offer.
Another major project under his oversight was the privatisation of IDBI Bank. The bank’s divestment process is currently progressing, with bidders undergoing due diligence.
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