Tuhin Kanta Pandey | The calm bureaucrat

Tuhin Kanta Pandey. File | Photo Credit: Reuters

Anyone who knows the chairman of the upcoming securities and exchange board of India (SEBI), either as a reporter or as a former collaborator, essentially recalls his calm performance and commitment to work. For Saroj Sararangi, now retired as a medical officer of Jagat Singhpur district of Odisha, the news of the appointment of Tuhin Kanta Pandey as the next SEBI chief was very happy. They told Hindu Regarding appointments about appointments considering their efficiency and fluid expertise in dealing with public affairs.

The 1987 batch Indian Administrative Service (IAS) Odisha cadre official succeeded Madbi Puri Buch. While Ms. Buch brought her experience from the corporate world to the regulatory office, she also faced a conflict of interest charges against the Adani Group for manipulations in stock price.

In contrast, Mr. Pandey borrowed from a four -decade career in public administration, serving him as a district collector and magistrate of Sambalpur district of Odisha, recently made Revenue Secretary in addition to his post as Finance Secretary. However, his most notable run was in investment and Public Asset Management (DIPAM) Department. During his five-year tenure there, he oversee the IPO of the then struggling National Carrier Air India and the IPO of India’s State-in-Life Insurance Corporation (LIC). Mr. Pandey’s five -year term in Deepam is the longest among any secretary in the department since its formation in 1999.

He was a student of economics at Punjab University (Chandigarh). He went to attend Birmingham University for his MBA.

Delhi from Odisha and back, again

In his four-decade long career, Mr. Pandey went back and forth between Delhi and Odisha-every time holding important social and economic departments. At the beginning of his career, Mr. Pandey served as the Executive Director of Odisha State Finance Corporation (OSFC) and Managing Director of Odisha Small Industries Corporation (OSIC). Before he takes charge of Sambalpur district. He then moved from Odisha to New Delhi on central deputation, as Deputy Secretary in the Department of Commerce and later in the Regional Office of the United Nations Industrial Development Organization (UNIDO).

Later, when returning to Odisha cadre, he worked with the state’s transport, health and commercial tax departments. Mr. Pandey took over as Principal Secretary of the Finance Department of Odisha in 2016.

He returned to Delhi in October 2019 as Deepam Secretary.

Retired IAS officer Pradeep Biswal, and former aide of Mr. Pandey, remembered in one Articles for ‘Odisha+’ He is considered a “honest, honest and decisive administrator” about him, and “very humble and affectionate person”. Recalling his appointment as the commissioner of commercial taxes in Odisha, Mr. Biswal wrote that “Workers” (Mr. Pandey) started his job “” the most honestly and skill “. “He did not go to the region’s trips to his office continuously like his predecessors and limited himself to his office,” Mr. Biswal said, “He was a reformist who tried to amend the ancient provisions in acts and rules to meet the needs of his time.”

Retired Medical Officer of Jagat Singhpur district, Mr. Sarani called Shri Pandey’s conduct a “gentleman”.

Pricing and privatization

LIC’s entry into Air India sales and boors is one of the main attractions of his career. The sale of Air India was the first in the efforts of the Prime Minister Narendra Modi government to privatize the government. The national carrier was backing back to ₹ 20 crores in a day.

Mr. Pandey underlined one Industry incident last year It was important for well -managed companies to listed to accelerate growth. Mr. Pandey said that pointing to the economy, pointing to continuing to grow in the long term, Mr. Pandey explained, “This would mean that it will require both the capital market and the national market which they can do to achieve this development.”

Mr. Pandey also focused on increasing his accountability to increase returns from central public sector enterprises. This was between slowing down privatization over the years. On generating better returns, he said in February last year that the joint market capitalization of CPSES, banks and insurance companies had increased to ₹ 58 lakh crore six times in three years. The central government’s equity holding had increased four times. 38 lakh crores. He said, “PSE has created a lot of value, which is due to a strong performance between the reference to a positive Indian economy, the possibilities of development, capital restructuring, continuous dividend policy as well as a calibrated disinvestment strategy,” he said.

Start in turbulent time

Mr. Pandey will start his term as the major regulators of the market were in a recession setting, as foreign institutional investors (FIIs) continue to withdraw their money from India markets. At the post -budget press conference, Mr. Pandey, as the Finance Secretary argued that FIIs were not going from one emerging market to another. He said that whenever there was global uncertainty, “he was ready to go back to America, where he is.” Accepting the existence of demand-supply issues, which needed to be filled, dismissed them as temporary and assured that the Indian economy was flexible.