Stock market today saw a major leadership change as Tuhin Kanta Pandey, the current Finance and Revenue Secretary, was appointed as the new Chairperson of the Securities and Exchange Board of India (SEBI) for a three-year term. Pandey, a 1987-batch IAS officer from the Odisha cadre, will take over from Madhabi Puri Buch, whose tenure ends on February 28.
Pandey has had an influential career in diverse positions before working as the Secretary in the Department of Investment and Public Asset Management (DIPAM). He was involved in major privatization deals, including disinvestment in Air India and listing of Life Insurance Corporation of India (LIC). He was appointed to be the Revenue Secretary in January 2025 shortly before the Union Budget.
His term concludes speculation over an extension to Buch, who was both the first woman and private sector professional to lead SEBI. Unlike predecessors UK Sinha and Ajay Tyagi, who received extensions, Buch is resigning after serving three-year term since March 2, 2022.
Both achievements and scandals surrounded Buch during her term in office. Her regulatory decisions were viewed by most while her leadership was targeted by short-seller Hindenburg and political opposition. Additionally, workers in SEBI had raised certain issues about office affairs, although this was later resolved. Buch has repudiated every accusation.
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Source: Moneycontrol
News Desk
