Lagatar24 Desk
New Delhi: The Appointments Committee of the Cabinet (ACC) has appointed Tuhin Kanta Pandey as the 11th Chairman of the Securities and Exchange Board of India (Sebi), replacing Madhabi Puri Buch. Buch’s three-year tenure as Sebi chief will conclude on March 1, 2025.
Key Government Roles and Contributions
A 1987-batch IAS officer from the Odisha cadre, Pandey currently serves as Finance Secretary and Secretary of the Department of Revenue. He took over as Finance Secretary in September 2024, following the promotion of TV Somanathan to Cabinet Secretary.
Throughout his career, Pandey has played a pivotal role in India’s economic and financial policies, holding key positions such as:
• Secretary, Department of Investment and Public Asset Management (DIPAM)
• Secretary, Department of Public Enterprises (DPE)
His extensive experience in handling government finances, disinvestment strategies, and public sector managementmakes him a strong choice for leading Sebi, which regulates India’s stock markets and financial institutions.
Major Contributions to Economic and Financial Policies
Pandey has been closely involved in some of the most significant financial decisions in recent years, including:
• 2025-26 Union Budget: A key figure in shaping the budget, which included ₹1 lakh crore in tax relief for the middle class.
• New Income Tax Bill: He contributed to drafting a new Income Tax Bill aimed at replacing the Income Tax Act of 1961.
Role in Major Privatization Efforts
As one of the longest-serving secretaries at DIPAM, Pandey played a crucial role in government stake management in public sector enterprises. His tenure saw landmark disinvestment moves, including:
• Privatisation of Air India: He spearheaded the sale of Air India to the Tata Group, marking one of the biggest disinvestment successes in India.
• Privatisation of IDBI Bank: He played a leading role in the privatisation process of IDBI Bank, which is still in progress as bidders conduct due diligence.
Academic Background and Experience
Pandey holds a Master of Arts in Economics from Punjab University and an MBA from the University of Birmingham, UK. His career spans various state and central government departments, including:
• District Collector in Sambalpur, Odisha
• Deputy Secretary in the Ministry of Commerce
• Roles in the health, transport, and commercial tax sectors
• Brief tenure as Secretary in the Ministry of Civil Aviation (2021)
With his extensive experience in financial restructuring and stock market regulation, Pandey’s appointment is expected to shape India’s securities market policies and drive capital market reforms.
