Sebi has denied the issue, asserting that the employees are perhaps misguided by external elements to target the credibility of it and its leadership.
The problems of SEBI chief Madhabi Puri Buch are continuously increasing. Many allegations are being made one after the other. Now, serious allegations have been made against Sebi chief. This time, Sebi employees have made allegations against Buch. A complaint has been made by writing a letter to the Finance Ministry regarding this. In a letter, the employees said that Buch shouts and scolds them in meetings and also humiliates in public.
Sebi employees have alleged that for the last 2-3 years, there has been an atmosphere of fear in Sebi and monitoring is done every minute. More than 500 Sebi employees have signed a 5-page complaint. The subject of this complaint letter is - 'Grievances of Sebi Officers-A Call for Respect'.
In the letter, it stated that Sebi chief talks to her team members in harsh language. Sebi monitors the officers every minute. In the last 2-3 years, there is an atmosphere of fear in the office and an oppressive atmosphere has been created.
The Sebi chief always gives impossible targets and keeps changing them too, it stated. For this year, the target of the employees i.e. Key Result Area (KRA) has been increased by 20 to 50 per cent and they have been asked to complete it by December. Employees are not robots who can work immediately and increase their output, the letter said.
Sebi responds to the issue
Amidst allegations of SEBI employees protesting and complaining of 'toxic work culture', the market regulator on Wednesday categorically denied the issue, asserting that the employees are perhaps misguided by external elements to target the credibility of it and its leadership. The market regulator believes its junior officers, who were allegedly aggrieved in respect of HRA allowances, have been misguided, perhaps by external elements.
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