Pandey told the media that Sebi is a strong market institution and is evolving continuously and his goal is to make it the best market institution.
He further said that Sebi held the trust of Parliament, the government, industry, and investors based on four pillars viz. trust, transparency, teamwork and technology.
His appointment was made by the government via notification from the Appointments Committee of the Cabinet (ACC) on Thursday, February 27.
A 1987-batch IAS officer from the Odisha cadre, Pandey has held key positions in the government. He was appointed Finance Secretary in September 2024, succeeding TV Somanathan, who was promoted to Cabinet Secretary. Before that, he headed the Department of Public Enterprises (DPE) and the Department of Investment and Public Asset Management (DIPAM).
Also Read: Sebi allows special investment funds for wealthier individuals, starting at Rs 10 lakh, effective from April 1Pandey brings with him decades of experience in economic policy and financial administration. As Finance Secretary, he played a key role in drafting India’s new Income Tax Bill and shaping policies to boost economic growth. Now, he is tasked with steering SEBI through an evolving financial landscape, balancing investor protection with market development.Pandey steps into the role as the Indian stock market faces bearish pressure due to persistent withdrawals by foreign institutional investors (FIIs). Foreign portfolio investors (FPIs) have pulled out over Rs 1.13 lakh crore in 2025.
New Sebi chief: Educational background & career
Pandey holds an MA in Economics from Panjab University, Chandigarh, and an MBA from the UK. His career spans significant administrative roles both in the Odisha state government and central government.
He has served as District Collector in Sambalpur, Deputy Secretary in the Ministry of Commerce, and held various positions in sectors like health, transport, and commercial taxes.
He was Joint Secretary at the Planning Commission before his leadership role at DIPAM, where he managed major disinvestment initiatives. His tenure also included a brief stint as Secretary in the Ministry of Civil Aviation in 2021.
As for Buch, her tenure was marked by allegations of conflict of interest and investments in offshore funds linked to the Adanis. She made history as Sebi’s first female chairperson. Her tenure focused on market integrity, investor protection, and regulatory efficiency. A former Sebi board member, Buch emphasised transparency and governance reforms, strengthening India’s financial markets.
To her credit, she also introduced several measures to curtail speculative trading activity in India’s derivatives market.
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