Tuhin Kanta Pandey Appointed New SEBI Chairman, To Succeed Madhabi Puri Buch

The Appointments Committee of the Cabinet has approved the appointment of Finance Secretary Tuhin Kanta Pandey as the new Chairman of the Securities and Exchange Board of India (SEBI), reported CNBC-TV18.

Pandey will serve an initial term of three years.

Photo Credit: PTI

According to the government order, "The Appointments Committee of the Cabinet has approved the appointment of Shri Tuhin Kanta Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue, to the post of Chairman, Securities and Exchange Board of India (SEBI), initially for a period of three years from the date of assumption of charge or until further orders, whichever is earlier."

A CNBC-TV18 report had previously indicated that Pandey was among the candidates being considered for the role.

Other contenders included Ajay Seth, Secretary of the Department of Economic Affairs (DEA); Pankaj Jain, Secretary of the Ministry of Petroleum and Natural Gas; and KC Varshney, a Whole-Time Member of SEBI.

In January, the government invited applications for the position, setting February 17, 2025 as the deadline for submissions.

The tenure of the current SEBI Chairperson, Madhabi Puri Buch, concludes on March 1. She assumed office on 2 March 2022 for a three-year term, becoming the first woman to lead SEBI.

Buch succeeded Ajay Tyagi, who served for five years from March 2017 to February 2022. Before him, UK Sinha held the position for six years, marking consecutive extended tenures in SEBI's leadership.