Seasoned Bureaucrat Tuhin Kanta Pandey Takes the Helm at SEBI

Tuhin Kanta Pandey, a seasoned bureaucrat known for his adherence to rules, has been appointed as the head of SEBI for three years, succeeding Madhabi Puri Buch. Pandey's extensive experience in government disinvestment and privatisation will guide SEBI amid challenging market conditions and foreign investment fluctuations.

Tuhin Kanta Pandey, a veteran bureaucrat with a reputation for sticking to the rules, has been appointed as the head of the Securities and Exchange Board of India (SEBI) for a three-year term. Pandey replaces Madhabi Puri Buch, the outgoing chair, who was the first woman to lead the regulator and also the first to come from the private sector.

Buch, during her tenure, pushed for faster equity settlements and improved mutual fund penetration but faced controversies in her final year, including allegations by Hindenburg Research and disputes with the Congress party. Pandey's appointment follows another senior bureaucratic appointment, with Revenue Secretary Sanjay Malhotra named RBI Governor last month.

Pandey, who has a strong background in handling government disinvestment initiatives, notably oversaw the privatisation of Air India. As he takes up the mantle at SEBI, Pandey will tackle the ongoing challenges posed by a withdrawal of foreign institutional investors, who have pulled more than Rs 1 lakh crore in recent months.

(With inputs from agencies.)