On Thursday, Centre appointed the Finance Secretary Tuhin Kanta Pandey as New SBI Chief. He is new financial officer of country’s market regulator, and replace the Madhabi Puri Buch, whose term end this month. Mr Pandey placed as chairman of the Securities and Exchange Board of India (SEBI) for 3 years, as per government orders.
Mr Pandey as New SEBI Chief
Tuhin Kanta Pandey appointed as finance secretary in September 2024. On this role, he need to overlook at divestment department. He was the longest serving divestment secretary from over five years. He manage listing of country’s largest insurer Life Insurance Corp. of India. Also, he led the government’s successful sale of Air India to Tata Group
He appointed at a time when market regulators plan to expand the range of regulated financial investment options. It is beneficial for investors and try to reduce volatility and malpractice in the derivative market.
Tuhin Kanta Pandey Focus on Value creation
As privatisation slowed, he focus on value creation by state-run companies. He push them to generate the high returns and make it more manageable. He has the knowledge and expertise to work as the New SEBI Chief. Then, he starts working as country’s finance and revenue secretary from January 2025. Also, he works to reduce import duties on high-end motorcycles, because India aims to reduce protectionist tag. If we talk about his educational background, then he has masters degree in business administration and economics from Panjab University and the University of Birmingham.
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