Tuhin Kanta Pandey Appointed as New SEBI Chief Amid Market Challenges

Tuhin Kanta Pandey, previously India's Finance Secretary, has been appointed as the new chairman of the Securities and Exchange Board of India (SEBI), replacing Madhabi Puri Buch. His tenure begins as SEBI seeks to expand investment options and tackle market volatility while continuing investigations into corporate misconduct.

Tuhin Kanta Pandey, the current Finance Secretary, is set to take charge as the head of the Securities and Exchange Board of India (SEBI) following the completion of Madhabi Puri Buch's tenure. A government order confirmed Pandey's appointment for a three-year term.

Pandey steps into his new role at a critical juncture for SEBI, which is striving to enhance the scope of regulated financial investment opportunities, all while curbing volatility and addressing malpractice in the derivatives market. Notably, Pandey was instrumental as the longest-serving divestment secretary, overseeing the public listing of Life Insurance Corp. of India and the sale of Air India to Tata Group.

Madhabi Puri Buch, whose tenure at SEBI has concluded, faced allegations from Hindenburg Research regarding a conflict of interest in the Adani group's investigations, which were denied by both Buch and Adani. Buch's term also marked significant changes in India's financial regulatory landscape, with stricter rules in derivatives markets and increased transparency for corporates and fund managers.

(With inputs from agencies.)