Synopsis
The Indian government has appointed Tuhin Kanta Pandey as the new chairman of SEBI, succeeding Madhabi Puri Buch. His tenure will last for three years as he takes over the crucial role in regulating the capital markets.Key Takeaways
- Tuhin Kanta Pandey appointed as new SEBI Chairman.
- Initial tenure set for three years.
- He replaces Madhabi Puri Buch, whose term ends on March 1.
- Government called for applications in January, deadline February 17, 2025.
- SEBI chief's salary options include Rs 5,62,500 per month.
New Delhi, Feb 27 (NationPress) The appointments committee of the Cabinet has officially sanctioned the designation of Tuhin Kanta Pandey, the Finance Secretary, as the new Chairman of the Securities and Exchange Board of India (SEBI).
Pandey is set to take over the role for an initial term of three years. He succeeds the outgoing SEBI Chairperson, Madhabi Puri Buch, whose term concludes on March 1.
According to the government order, “The Appointments Committee of the Cabinet has sanctioned the appointment of Tuhin Kanta Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue to the role of Chairman, Securities and Exchange Board of India (SEBI), initially for a term of three years from the date of taking charge or until further orders, whichever is sooner.”
In January, the government called for applications for the position, setting February 17, 2025, as the final date for submissions.
The Finance Ministry advertised in newspapers requesting applications from suitable candidates for the prestigious position at the capital markets regulator.
The SEBI chief has the option to receive remuneration equivalent to that of a Secretary to the Government of India or a consolidated salary of Rs 5,62,500 per month, exclusive of housing and transportation.
The current SEBI Chairperson’s term concludes on March 1. She began her tenure on March 2, 2022, for a three-year term, marking her as the first woman to lead the markets regulator.
Buch took over from former IAS officer Ajay Tyagi, whose tenure as SEBI chief concluded following a two-year extension after his regular three-year term. Tyagi had held significant positions within the Finance Ministry.
She was notably the first individual from the private sector to lead SEBI. Her professional journey began in 1989 with ICICI Bank. Between 1993 and 1995, Buch served as a lecturer at West Cheshire College in England.
Over 12 years, she worked in various roles across firms, including sales, marketing, and product development, and also led operations. In 2006, she joined ICICI Securities and later became their CEO from February 2009 to May 2011.
