Tuhin Kanta Pandey Appointed as New SEBI Chief for a 3-Year Term

28 February, 2025
Tuhin Kanta Pandey Appointed as New SEBI Chief for a 3-Year Term

Winning Bizness Desk

Mumbai.The Central Government has appointed Tuhin Kanta Pandey as the next Securities and Exchange Board of India (SEBI) chairman for a term of three years. He will replace Madhabi Puri Buch, who is set to retire on February 28. Pandey, a 1987 batch IAS officer of the Odisha cadre, is currently serving as Finance Secretary and handling multiple key departments in the Central Government. He was appointed to the post of Finance Secretary on September 7, 2024.

Key Highlights:

  • The Finance Ministry had invited applications for the SEBI chief position on January 27.
  • Madhabi Puri Buch was appointed as SEBI chairperson on March 2, 2022, replacing Ajay Tyagi.
  • Buch had previously served as a Whole-Time Member at SEBI from 2017 to 2022.
  • The new SEBI chief will receive a monthly salary of ₹5.62 lakh, excluding housing and vehicle benefits.
  • SEBI's new chairman gets the same pay scale and perks as a Central Government Secretary.

The appointment of Pandey marks a significant transition in India's financial regulatory framework. Known for his expertise in financial administration, he will be taking over SEBI at a crucial time, overseeing regulatory policies and market developments. Meanwhile, outgoing chief Madhabi Puri Buch is widely recognized for her strict regulatory approach and impactful leadership at SEBI.

Who is Madhabi Puri Buch?

Madhabi Puri Buch began her career with ICICI Bank in 1989 and later served as an Executive Director from 2007 to 2009. From February 2009 to May 2011, she was the Managing Director and CEO of ICICI Securities. After that, she moved to Singapore and worked with Greater Pacific Capital. With over 30 years of experience in the financial sector, Buch played a key role in various SEBI committees and was also a member of its Advisory Committee before being appointed as SEBI chief.