Tuhin Kanta Pandey took over because the eleventh chairperson of the Securities and Trade Board of India (Sebi) on Saturday afternoon, marking a big transition on the helm of the market regulator.
Pandey’s appointment comes when the Indian capital markets face important challenges, with overseas institutional traders (FII) withdrawing over ₹1 trillion because the starting 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 about for an preliminary interval of three years.
Chatting with the press after assuming cost, Pandey expressed his confidence in Sebi’s sturdy basis, constructed over years of management. “Sebi is a really sturdy market establishment. It has been constructed over time with successive management and can proceed with it. We maintain the belief of individuals, parliament, authorities, traders, and business. Belief is essential,” he mentioned.
Pandey outlined 4 key targets that can information his tenure. “I am going to must say Sebi has obtained 4 targets: belief, transparency, teamwork and know-how. I feel these 4 components make it distinctive, and we have now created one and can proceed to create probably the greatest market establishments on the planet for which we’ll all be proud.”
When requested concerning the management model of his predecessor, Buch, and his personal plans, Pandey avoided commenting. “We’re not going to touch upon something, on anybody, or any model. I mentioned we’re the group right here, and this group will work with different groups: media, workers, traders, and business. It’s a stakeholder establishment. We work collectively, and we construct it. We have now constructed such a superb establishment, and we’ll proceed to make our personal contributions to its development.”
Pandey’s speedy process includes steering Sebi by market volatility led by the FII exodus. Pandey brings intensive expertise, having beforehand served because the finance secretary and secretary of the division of income. He has been instrumental in key authorities initiatives, together with the disinvestment of public sector enterprises and the privatization of Air India.
