According to the source, the Indian government has appointed Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). This decision comes at a time when the Indian stock market is navigating choppy waters, with substantial foreign investor withdrawals causing concern among stakeholders.
A Seasoned Bureaucrat Steps In
Tuhin Kanta Pandey, a 1987-batch Indian Administrative Service (IAS) officer from the Odisha cadre, brings a wealth of experience to his new role. Before this appointment, he served as the Finance Secretary and Secretary of the Department of Revenue. His extensive background in financial and economic policy is expected to provide SEBI with the leadership needed during these turbulent times.
Challenges on the Horizon
Pandey’s appointment coincides with a period of volatility in the Indian stock market. Since January 2025, foreign portfolio investors have pulled out over ₹1 lakh crore, leading to bearish trends and heightened uncertainty. Market analysts and investors are keenly observing how Pandey’s leadership will influence regulatory policies and restore market stability.
A Legacy of Reforms
Pandey succeeds Madhabi Puri Buch, who made history as SEBI’s first female chairperson. During her tenure, Buch implemented significant regulatory changes, including tighter rules for India’s derivative markets to protect retail investors and advocating for safer small investment options. She also enforced tougher disclosures for corporates and fund houses, moving the Indian markets towards same-day settlement. However, her term was not without controversy, as allegations from Hindenburg Research concerning conflicts of interest in SEBI’s investigations into the Adani group surfaced. Both Buch and the Adani group denied these claims, and while SEBI’s investigations have been completed, the orders are yet to be released.
Pandey’s Track Record
Throughout his career, Pandey has held pivotal roles in both state and central governments. Notably, he served as the longest-serving Secretary in the Department of Investment and Public Asset Management (DIPAM), where he played a crucial role in India’s privatization initiatives.
His leadership was instrumental in the strategic disinvestment of Air India, facilitating its takeover by the Tata Group. Additionally, he spearheaded the ongoing privatization process for IDBI Bank and contributed to the drafting of a new Income Tax Bill aimed at replacing the Income Tax Act of 1961.
Summing Up on Tuhin Kanta
As Pandey takes the helm at SEBI, the financial community is optimistic yet watchful. His extensive experience in financial management and policy formulation is expected to influence SEBI’s approach to emerging financial instruments, including cryptocurrencies. Under his guidance, the Indian government introduced the Finance Bill 2025, which defines cryptocurrencies as “crypto assets” and mandates the reporting of any crypto earnings.
This move aligns with India’s commitment to the Crypto-Asset Reporting Framework (CARF), requiring the disclosure of crypto asset information.
Tuhin Kanta Pandey’s appointment as SEBI chairman marks a pivotal moment for India’s financial markets. With his rich background in economic policy and financial management, stakeholders are hopeful that he will navigate the current challenges and steer the market towards stability and growth.
Stay connected with TurkishNY Radio by following us on Twitter and LinkedIn, and join our Telegram channel for more news.
FAQs
-
Who is Tuhin Kanta Pandey?
Tuhin Kanta Pandey is a seasoned Indian bureaucrat appointed as the chairman of SEBI in February 2025.
-
What is SEBI?
The Securities and Exchange Board of India (SEBI) is the regulatory body overseeing India’s securities and commodity markets.
-
What challenges is the Indian stock market currently facing?
Since January 2025, the market has seen significant foreign investor withdrawals, leading to bearish trends.
-
What are Pandey’s views on cryptocurrencies?
Under Pandey’s guidance, the Indian government introduced the Finance Bill 2025, defining cryptocurrencies as “crypto assets” and mandating the reporting of crypto earnings.
-
Who did Pandey succeed as SEBI chairman?
He succeeded Madhabi Puri Buch, SEBI’s first female chairperson.
Glossary
-
SEBI: Securities and Exchange Board of India, the regulatory authority for securities and commodity markets in India.
ADVERTISEMENT -
IAS: Indian Administrative Service, the premier civil service of India.
-
DIPAM: Department of Investment and Public Asset Management, responsible for managing government investments in public sector enterprises.
-
Cryptocurrency: A digital or virtual currency that uses cryptography for security.
-
Finance Bill 2025: Legislation introduced by the Indian government in 2025, defining and regulating “crypto assets.”
Sources
India names Finance Secretary Pandey as chief of market regulator
Who is Tuhin Kanta Pandey? SEBI’s newly appointed chairman, replaces Madhabi Puri Buch
Meet Tuhin Kanta Pandey, the babu who led Air India’s sale, now SEBI’s new head
