New SEBI Chairman : Tuhin Kanta Pandey Replaces Controversial Madhabi Puri Buch ; Mahua Moitra Reacts

Union government has appointed Finance Secretary Tuhin Kanta Pandey as the 11th chairman of the capital market regulator, Securities and Exchange Board of India (SEBI).

The Odisha-cadre Indian Administrative Service (IAS) officer would replace Madhabi Puri Buch, who completes her three-year tenure February 28.

According to PTI , The Appointments Committee of the Cabinet has approved the appointment of Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue, to the post of SEBI chairman, according to a government order issued late on Thursday evening.

Pandey’s appointment is initially for a period of three years from the day he assumes charge, the order said.

Pandey will take over as the head of the SEBI at a time when markets are witnessing bear pressure following a withdrawal by foreign institutional investors (FIIs). Foreign portfolio investors (FPIs) have withdrawn more than Rs 1 lakh crore since January.

The 1987-batch IAS officer is the senior-most officer in the ministry of finance handling the department of revenue.

Pandey was the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM), a department in the finance ministry that manages government equity in public sector companies, as well as the eepartment of public enterprises (DPE).

TMC MP , Mahua Moitra Took to X and reacted on the appointment of New SEBI chairman.