Fri Sep 06 03:17:15 UTC 2024: – SEBI officials held a protest at the regulator’s Mumbai headquarters calling for the resignation of Chairperson Madhabi Puri Buch
– The protest was in response to a press release by SEBI dismissing their letter on unprofessional work culture as “misguided”
– SEBI refuted claims of underpaid employees, stating that entry-level salary for Grade A officers is Rs 34 lakh per annum
– SEBI highlighted initiatives taken to ensure employee technological updates, but employees cited unrealistic KRA targets and lack of respect as root causes of discontent
– Letter written to Finance Ministry claimed fear has become the primary driving force at SEBI, with shouting, scolding, and public humiliation being common in meetings.

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