The Centre on Thursday appointed current Finance Secretary Tuhin Kanta Pandey as the chief of market regulator Sebi replacing Madhabi Puri Buch whose term ends at the end of the month. Finance Secretary Tuhin Kanta Pandey has been appointed as the chairman of the Securities and Exchange Board of India for 3 years, according to a government order.
Tuhin Kant Pandey will be the new chairman of the Securities and Exchange Board of India (SEBI). He will replace the current chairman Madhavi Puri Buch. The Appointments Committee of the Cabinet has approved his appointment. Pandey’s tenure will be three years. The Union Personnel Ministry has issued a notification regarding the appointment.
Tuhin Kant Pandey is an IAS of Odisha cadre
Tuhin Kant Pandey, a 1987 batch administrative officer, is currently working as Secretary in the Ministry of Finance. He is an IAS of Odisha cadre. Tuhin Kant Pandey was made Finance Secretary on January 9 in place of Arunish Chawla. Pandey was appointed to this post about three weeks before the general budget. The Finance Secretary plays a very important role in making the budget. However, he also has the charge of Revenue Secretary.
Madhabi Puri Buch’s tenure ends on February 28
The tenure of the current SEBI Chairman Madhabi Puri Buch ends on February 28. He took charge on March 2, 2022 for a term of three years. Buch was the first woman chief of SEBI. Buch replaced Ajay Tyagi. Ajay Tyagi served for five years from March 2017 to February 2022. Before him, UK Sinha held the post for six years in consecutive extended tenures at the helm of SEBI.
Pandey has studied from Punjab University
He has also served as Executive Director of Odisha State Finance Corporation and Managing Director of Odisha Small Industries Corporation. Pandey holds a Masters in Economics from Punjab University, Chandigarh and an MBA from the University of Birmingham (UK).