Tuhin Kanta Pandey will replace Madhabi Puri Buch
The Centre on Thursday appointed Finance Secretary Tuhin Kanta Pandey as chief of the country's market regulator, replacing Madhabi Puri Buch, whose term ends this month.
Mr Pandey has been appointed chairman of the Securities and Exchange Board of India (SEBI) for three years, a government order showed.
He comes in at a time when the market regulator is trying to expand the suite of regulated financial investment options available to investors while also trying to curb volatility and malpractice in the derivative market.
Mr Pandey was appointed as finance secretary in September 2024, adding to his role overseeing the divestment department. He was the longest serving divestment secretary, a post he held for over five years, and oversaw listing of country's largest insurer Life Insurance Corp. of India.
He also led the government's successful sale of Air India to Tata Group.
As privatisation slowed, Mr Pandey prioritised value creation by state-run companies, pushing them to generate better returns and making them more accountable.
As the country's finance and revenue secretary from January 2025, Mr Pandey worked towards lowering import duties on high-end motorcycles as India prepared to shed its protectionist tag.
He holds masters degrees in economics and business administration from Panjab University and the University of Birmingham.
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