New Delhi, April 2 -- Winds of change are blowing across Sebi Bhawan, the home of India's securities market regulator. Expectation levels of market participants have run high, and the hope that there would be meaningful and pragmatic regulations, encouraging honest conduct of business, has been reinforced.

In his first week as the head of India's securities market regulator, Chairman Tuhin Kanta Pandey has sent the right signals and articulated the regulatory philosophy that will inform the functioning of the Securities and Exchange Board of India (Sebi) over the next few years. In his keynote address at a summit on 7 March 2025, he said, "All reforms need not be big-bang. Many a time, small reforms cumulatively are more effective. Going...