Tuhin Kanta Pandey took over as the 11th chairperson of the Securities and Exchange Board of India (Sebi) on Saturday afternoon, marking a significant transition at the helm of the market regulator.
Pandey’s appointment comes when the Indian capital markets face significant challenges, with foreign institutional investors (FII) withdrawing over ₹1 trillion since the beginning of 2025.
Pandey, an Indian Administrative Service (IAS) officer from the Odisha cadre, was appointed Sebi chairperson on 27 February, succeeding Madhabi Puri Buch, whose tenure ended on 28 February.
Pandey’s appointment is set for an initial period of three years.
Speaking to the press after assuming charge, Pandey expressed his confidence in Sebi’s robust foundation, built over years of leadership. “Sebi is a very robust market institution. It has been built over the years with successive leadership and will continue with it. We hold the trust of people, parliament, government, investors, and industry. Trust is very important,” he said.
Pandey outlined four key objectives that will guide his tenure. “I’ll have to say Sebi has got four objectives: trust, transparency, teamwork and technology. I think these four elements make it distinctive, and we have created one and will continue to create one of the best market institutions in the world for which we will all be proud.”
When asked about the leadership style of his predecessor, Buch, and his own plans, Pandey refrained from commenting. “We are not going to comment on anything, on anyone, or any style. I said we are the team here, and this team will work with other teams: media, employees, investors, and industry. It is a stakeholder institution. We work together, and we build it. We have built such a good institution, and we will continue to make our own contributions to its growth.”
Pandey’s immediate task involves steering Sebi through market volatility led by the FII exodus. Pandey brings extensive experience, having previously served as the finance secretary and secretary of the department of revenue. He has been instrumental in key government initiatives, including the disinvestment of public sector enterprises and the privatization of Air India.
