NEW DELHI, INDIA — Veteran IAS officer Tuhin Kanta Pandey, a member of the Odisha cadre, has received the credit for the new Chairman of the Securities and Exchange Board of India (SEBI), which is the first term of three years. The announcement made by the Appointments Committee of the Cabinet on February 27, 2025, shows the appointment comes in difficult times for SEBI, characterized by a significant outflow of foreign capital.
Pandey, an IAS officer of the 1987-batch, has accomplished many tasks in different significant posts in the government. He was in charge of the government as the Finance Secretary and the Secretary of the Department of Revenue that focused on his skill in handling public finances. Earlier, as the head of the Department of Investment and Public Asset Management (DIPAM), he was in charge of the privatization of Air India and the public listing of the Life Insurance Corporation (LIC). His experience in the public finances area stretches over a huge period and as a result, he is the ideal candidate for leading India’s capital markets in hard times.
“The selection of Shri Tuhin Kanta Pandey is a statement of our confidence in the expertise of career bureaucrats managing major institutions,” said a government spokesperson on February 27, 2025. “The successful listing of public and disinvestment initiatives along with effective fiscal management will be the key factors as SEBI addresses market challenges.”
Apart from the professional achievements, Pandey’s qualifications are also remarkable. He has a Master’s degree in Economics from Panjab University, Chandigarh, and an MBA from the University of Birmingham, UK. With those, he has gained better understanding of economic theory and business management that have helped him handle profound financial reforms.
He is appointed just after the end of Madhabi Puri Buch’s term which was from February 28, 2025. Buch was the first woman and the first private-sector appointee to lead SEBI, however, during her time there, she was dogged by controversy over conflict of interest allegations that surfaced during the regulator’s investigation into certain market activities. While Buch had defended her record, critics argued that the issues under her watch posed a risk to investor confidence, prompting the minister to prefer a seasoned bureaucrat to clear the path.
The market analysts remarked that the timing of the appointment was most critical. In the first half of 2025, Indian stocks faced bearish trends which were to a larger extent impacted by the withdrawal of ₹1.13 lakh crore by foreign institutional investors and portfolio investors. “Pandey, who has asset management as well as public contract experience with exceptional track record, brings his a wide range of expertise,” said Navneet Munot, CEO of HDFC Asset Management. “His leadership is expected to shore up the regulatory oversight and help to rebuild investor confidence in Indian capital markets.”
Pandey’s journey has more than three decades in different capacities at both the state and central government levels. He cleared the UPSC examination to start his career and was District Collector in Sambalpur before rising to senior positions in the finance and commerce ministries. He was assigned Finance Secretary in September 2024 when his predecessor TV Somanathan was appointed Cabinet Secretary.
This is the continued trend after the headlines that increasingly show the top management positions in associated government agencies were filled with senior IAS officials. For instance, the Reserve Bank of India has received Sanjay Malhotra as its Governor, with the government clearly displaying its commitment to being run by bureaucrats who will prove their worth by keeping finance and banking stable through uncertain times.
Pandey, the new SEBI chief, will enhance market transparency, strengthen investor protection, and introduce new corporate governance standards which is part of his statement of command. His mandate includes implementing policy reforms to attract both foreign and domestic investment while mitigating market volatility. The analysts also express that this term may potentially mean the start of regulatory reforms that move Indian capital markets up to world standards.
March 1, 2025, is the date when Pandey will take over the leadership of the country by assumption of the post. His ruling is expected to restore the balance in the highly volatile market and restore the confidence of the investors, stakeholders, and investor community in general. As SEBI wrestles with the opportunities and threads of transforming global market conditions plus inbuilt calls for stricter compliance, the long-term experience of Pandey is considered a precious tool in leading the regulator to the target.
