SEBI Employees Protest Outside Mumbai Office, Demand Chairperson’s Resignation in 2024

This was after employees of SEBI demonstrated outside the organization’s Mumbai base with some of them holding placards that called for Buch’s resignation. The protest involved issues that are mostly concerned with some issues within the regulatory body and management, and it shows increased conflict within the body.

Grievances Against Leadership

Some of them expressed their concern with SEBI leadership provided by Buch, stating that she is not transparent and that several operational decisions made under her leadership are unsatisfactory to them. Protestors claimed that the chairperson created an unhealthy organizational culture in which the ER decreased morale by minimising interactions with employees and isolating them from major decisions.

The Call for Change

Check Out Future Moms: How Preimplantation Genetic Testing PGT Can Boost Pregnancy Success and Ensure Baby’s Health

Bearing placards in their hands and singing several slogans, all the employees are now one in calling for the resignation of Madhabi Puri Buch. They pointed out that she has had a regressive influence on the internal performance of the institution as well as the morale of the employees. In the next articles, some challenges encountered by the first woman chairperson will be outlined.

Since Madhabi Puri Buch began her tenure as a chairman of SEBI in 2022, she has been recognised for bringing some of the change in regulation and for corporate governance. But her term has also been associated with unease in the company’s staff, which is now openly expressed in the form of an action.

Broader Implications for SEBI

Since SEBI is tasked with regulating India’s financial markets, this protest may also have multiple ramifications at the executive and structural levels of the organization. Whether Buch will do as they have been asked or if this kind of unrest is going to lead to some kind of change is left unknown. It has brought debate in discourses pertinent to the internal functioning of SEBI as well as on how the regulatory agency will continue to respond to the needs of these employees in future.

To get more out of our exclusive news, Join us on our WhatsApp Channel, Facebook, X, and Instagram.