सिंहदरबार संवाददाता
Kathmandu. The Securities and Exchange Board of India (SEBI), the apex regulatory body of the Indian capital market, has got a new leadership. The central government of India has appointed Finance Secretary Tuhin Kant Pandey as the chairman of SEBI. Pandey has become the 11th chairman of SEBI.
Pande, an IAS officer from Odisha Cadre, will replace Madhavi Puri Buch at SEBI. Buch’s three-year term, which is full of controversy, ends on February 28. Buch, on the other hand, has been embroiled in controversies throughout her tenure. Buch, the first woman chairman of SEBI, has been leading since March 2, 2022. American research firm Hindenburg had published a report on Buch’s investments in foreign funds, which were apparently used by the Adani group.
The Appointments Committee of the Cabinet, which met on Thursday, approved the recommendation for the appointment of Pandey as Secretary. He will lead SEBI for the next 3 years.
Currently, foreign institutional investors in the Indian capital market are selling their shares and withdrawing money. As foreign investors have started exiting the capital market, the Indian stock market has started to see a slowdown. Foreign investors have sold over Rs 1 lakh crore worth of shares since January.
According to PTI, Pandey had the longest tenure as secretary in the Department of Investment and Public Asset Management (DIPAM). This is a department of the finance ministry that manages government investments in public sector companies and the Department of Public Enterprises (DPE).
Sanjay Malhotra took over the revenue department on January 9 after being appointed as the RBI governor.
Pandey also played a key role in preparing the budget for 2025-26. The budget that gave a big tax relief to the middle class. Pandey was also involved in drafting the new Income Tax Act. The law replaces the 64-year-old Income Tax Act, 1961.
Pandey also played an important role in the privatization of Air India. On October 8, 2021, the government announced the Tata Group as the winner of the bidding competition for the privatization of Air India. The Tata Group had agreed to pay a price of Rs 18,000 crore for Air India. On January 27, 2022, the Tata Group acquired ownership of Air India. Pandey also played a role in the IDBI Bank privatization plan, although this process is still ongoing.
From Punjab University to University of Birmingham
Pandey has an MA in Economics from Punjab University in Chandigarh. He also has an MBA from the University of Birmingham in the UK.
प्रतिक्रिया दिनुहोस्