The center has appointed Tuhin Kanta Pandey on February 27 as the new SEBI (Securities and Exchange Board of India) chief. He replaced the first woman head of SEBI, Madhabi Puri, whose term ended on February 28.
Tuhin Kanta Pandey will become the 11th chairman of SEBI India. Serving himself as one of the successful IAS officers in Odisha and finance secretary under the Indian government, he played a significant role in the formation of the Union Budget that ensured transparent initiatives to exempt all those earning up to Rs 12 lakh a year from paying tax.
The government appointed him based on his tenure and work compatibility. The report says he has in-depth knowledge in the privatization and banking sector. He has also been the Secretary of Investment and Public Assets. He has started his tenure from today onwards with a hope to bring transparency and accountability in finance and improve the growth of the nation.
As per the SEBI regulation, the chairman can hold office for a maximum of five years or until they reach the age of 65, whichever comes first. They are also eligible to join for another five-year tenure. His working tenure is initially for a period of three years from the day when he assumes charge.
According to recent market calculations, foreign investment has declined due to the withdrawal of funds from the Indian market by global investment institutions. However, Mr. Pandey will find it difficult to arrest the decline in international investment and ensure significant growth in the financial sector.
More than 1 lakh crore was withdrawn from the Indian market by foreign investors, the source said. However, the 1987-batch IAS officer will hold this position with full excitement and aspiration to ensure the betterment of the financial sector.
Also Read: https://theglobalic.com/2025/02/17/new-income-tax-bill-introduced-in-parliament/
