The Appointments Committee of the Cabinet on Thursday approved the appointment of Finance Secretary Tuhin Kanta Pandey as the new Chairman of the Securities and Exchange Board of India (SEBI) for an initial tenure of three years.
Pandey will succeed Madhabi Puri Buch, whose term as SEBI Chairperson is set to end on March 1.
“The Appointments Committee of the Cabinet has approved the appointment of Tuhin Kanta Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue, to the post of Chairman, Securities and Exchange Board of India (SEBI), initially for a period of three years from the date of assumption of charge of the post or until further orders, whichever is earlier,” the government order stated.
In January, the government invited applications for the position, setting February 17, as the deadline for submissions. The Finance Ministry issued newspaper advertisements inviting qualified candidates to apply for the top position at the capital markets regulator.
The SEBI chief will have the option to receive a salary equivalent to a Secretary to the Government of India or a consolidated salary of ₹5,62,500 per month, without house and car allowances.
Madhabi Puri Buch’s Tenure
Buch, the outgoing SEBI Chairperson, assumed office on March 2, 2022, for a three-year term, becoming the first woman to lead the markets regulator.
She succeeded Ajay Tyagi, a former IAS officer who had served as SEBI chief for five years—a regular three-year term followed by a two-year extension. Tyagi had previously held key positions in the Finance Ministry.
Buch was also the first private sector professional to head SEBI. She began her career in 1989 with ICICI Bank and later worked as a lecturer at West Cheshire College in England between 1993 and 1995.
She held various leadership roles across different companies for over 12 years, including in sales, marketing, product development, and operations. In 2006, she joined ICICI Securities, eventually becoming its CEO from February 2009 to May 2011.
–IANS
