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The Securities and Exchange Board of India (SEBI) is set to welcome its new head, Pandey, at a critical time for the Indian markets. The markets are currently facing bearish pressure, triggered by a significant withdrawal of funds by Foreign Institutional Investors (FIIs). Since January, Foreign Portfolio Investors (FPIs) have pulled out over ₹1 lakh crore, putting additional strain on market stability.
Pandey’s Appointment and Tenure
Pandey, a 1987-batch IAS officer, will assume leadership of SEBI for an initial term of three years, starting from the day he takes charge. His experience in handling key finance-related departments positions him well to navigate the current challenges facing the Indian financial markets.
Pandey’s Impressive Career Background
Before his SEBI appointment, Pandey was the seniormost officer in the Ministry of Finance, overseeing the Department of Revenue. He also served as the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). His leadership played a crucial role in managing government equity in public sector companies.
Key Contributions in the Finance Ministry
Pandey took charge of the revenue department on January 9, following the appointment of his predecessor, Sanjay Malhotra, as the Governor of the Reserve Bank of India (RBI). During his tenure, Pandey was instrumental in the framing of the 2025-26 Budget, which offered ₹1 lakh crore in tax relief to the middle class. He also contributed to the drafting of a new Income Tax Bill, designed to replace the decades-old Income Tax Act, 1961.Pandey’s extensive experience in public finance and tax policy, combined with his strategic insights, will play a crucial role in SEBI’s efforts to stabilize the markets and maintain investor confidence during this period of volatility.
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