Before his appointment as SEBI chairman, Tuhin Kanta Pandey held several high-profile positions within the government. He has served as Finance Secretary and Secretary of the Department of Revenue, playing a crucial role in shaping India’s fiscal and economic policies. Pandey was one of the key figures involved in formulating the 2025-26 Union Budget, which provided Rs 1 lakh crore in tax relief to the middle class. Some of his past roles include:

• District Collector in Sambalpur, Odisha

• Deputy Secretary in the Ministry of Commerce

• Positions in the health, transport, and commercial tax sectors

• Secretary in the Ministry of Civil Aviation (brief tenure in 2021)

• Joint Secretary in the Planning Commission (now NITI Aayog)

• Joint Secretary in the Cabinet Secretariat

Educational Background

Tuhin Kanta Pandey holds a Master of Arts in Economics from Punjab University and an MBA from the University of Birmingham, UK. His academic credentials, coupled with his extensive administrative experience, make him well-equipped to handle the complexities of financial regulation and capital market oversight.

What is SEBI?

The Securities and Exchange Board of India (SEBI) is the regulatory body for the securities and capital markets in India. SEBI's primary role is to regulate and develop the securities market and protect investor interests. 

Expectations as SEBI Chairman

Tuhin Kanta Pandey takes charge of SEBI at a crucial time when the regulator is focused on expanding the suite of regulated financial investment options while ensuring market stability. His tenure is expected to focus on:

• Strengthening market safety mechanisms

• Enhancing investor protection

• Implementing reforms to curb volatility and malpractice in the derivative market

• Encouraging broader financial participation through regulatory innovations

His appointment marks the second major instance of a bureaucrat leading a regulatory body, following IAS officer Sanjay Malhotra’s appointment as the Reserve Bank of India (RBI) Governor in December 2024. Despite discussions on including candidates from the private sector, the government's final decision to appoint an IAS officer underscores its confidence in the bureaucracy's ability to oversee critical financial institutions.

Outgoing SEBI Chief Madhabi Puri Buch Tuhin Kanta Pandey follows Madhabi Puri Buch, the first woman to head SEBI, who introduced significant regulatory changes during her tenure. Buch focused on enhancing market transparency, tightening rules in the derivative markets, and promoting safer small investment options to expand financial inclusion. She also implemented stricter disclosure norms for corporates and fund houses and played a key role in moving the Indian markets towards same-day settlement. Under her leadership, India emerged as a global hub for equity derivatives trading.

With his rich background in economic policymaking and public finance, Tuhin Kanta Pandey’s leadership at SEBI is expected to bring a balanced approach to regulation and market growth. His tenure will likely focus on ensuring a robust and transparent financial ecosystem, fostering investor confidence, and strengthening India’s capital markets amid a rapidly evolving economic environment.