Tuhin Pandey Is SEBI Chief, Second Top Finance Official Shifted To Mumbai

India has appointed Finance Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India, marking the second high-profile transition of a senior finance ministry official to a key financial position in Mumbai within recent months. 

In December, then-Revenue Secretary Sanjay Malhotra assumed the role of Governor of the Reserve Bank of India..

Pandey, a 1987-batch Indian Administrative Service officer from the Odisha cadre, will succeed Madhabi Puri Buch, whose term concludes on February 28. His three-year tenure at SEBI is set to commence immediately thereafter. 

During his tenure as Secretary of the Department of Investment and Public Asset Management, Pandey was instrumental in significant transactions, including selling national carrier Air India and the public listing of Life Insurance Corporation of India. 

Pandey takes charge at a time when SEBI faces heightened scrutiny on algorithm trading norms, crackdown on pump-and-dump operators, tighter derivative trading norms and the integrity of ESG disclosures. 

With record retail participation reshaping Indian equities, the regulator is also focused on ensuring strong governance and smoother capital-raising processes, particularly for smaller firms and startups.

The recent appointment of Malhotra as RBI Governor underscores the government's strategy to position seasoned bureaucrats from the finance ministry at the helm of India's principal financial institutions. 

Malhotra, a 1990-batch IAS officer, took over as RBI Governor from Shaktikanta Das in December 2024. His tenure began amid challenges such as slowing economic growth and rising inflation, with Malhotra emphasising the need for policy stability and continuity.