SEBI’s Institutional integrity tarnished by PM Modi: alleges Kharge
“The hard-earned money of 10 crore stock market investors has been jeopardised by this ‘mega scandal’ choreographed by Modi ji,” the Congress president said.
The Securities and Exchange Board of India (Sebi), on Monday, withdrew its statement blaming external elements for recent employee protests.
The protest, which was against its work culture, called for the resignation of SEBI chief Madhabi Puri Buch.
“Sebi addresses employee-related matters through appropriate internal mechanisms. Following constructive discussions with representatives of all grades of officers, Sebi and its employees have reaffirmed that such issues are strictly internal and will be managed in accordance with the organisation’s high standards of governance and within a time-bound framework,” the SEBI said in a press release.
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“…all concerns shall be addressed amicably through established internal channels,” it added.
In its Monday (September 16) press release, the SEBI said it believes that its employees have played a critical role over the past thirty-six years in shaping the Indian securities market into one of the most dynamic and well-regulated markets globally.
The Sebi said it addresses employee-related matters through appropriate internal mechanisms.
It is to be noted that on September 5, the market regulator issued a press release in response to a media report that said nearly 500 Grade A SEBI officials complained to the government in August about a toxic work culture.
The employees had also claimed that shouting, scolding and public humiliation were a norm in meetings. “It is our belief that SEBI’s junior officers, who were in large numbers, originally aggrieved in respect of HRA allowances, have been misguided, perhaps by external elements,” it had said.
Later on September 6, SEBI officers staged another protest outside headquarters, demanding the withdrawal of the press release.
They also sought the resignation of SEBI Chairperson Madhabi Puri Buch for spreading lies against employees, according to an internal agenda circulated among officials of the regulator.
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