The Appointments Committee of the Cabinet has approved the appointment of Finance Secretary Tuhin Kanta Pandey as the new Chairman of the Securities and Exchange Board of India (SEBI). Pandey will take over from Madhabi Puri Buch, whose tenure as SEBI Chairperson concludes on March 1, 2025.
According to the government order, Pandey, IAS officer of the 1987 Odisha cadre, will serve as SEBI Chairman for an initial period of three years from the date of assuming charge or until further orders, whichever is earlier.
The Ministry of Finance had invited applications for the position in January, setting February 17 as the deadline for submissions. The role of SEBI Chairperson carries the option of receiving a salary equivalent to a Secretary to the Government of India or a consolidated salary of ₹5,62,500 per month, excluding house and car allowances.
Madhabi Puri Buch made history as the first woman to lead the capital markets regulator when she assumed office on March 2, 2022, for a three-year term. Prior to her, Ajay Tyagi, a former IAS officer, served as SEBI Chairman for five years, including a regular three-year term followed by a two-year extension.
