SEBI Chairperson Madhabi Puri Buch Accused of Conflict of Interest with ICICI Bank

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SEBI Chairperson Madhabi Puri Buch Faces Conflict of Interest Allegations

Finance Saathi

02/Sep/2024

Key Points:

Madhabi Puri Buch is accused of receiving ₹16.8 crores from ICICI Bank while serving as SEBI Chairperson.

Concerns have been raised about potential conflicts of interest due to her dual employment.

The Indian National Congress is calling for her resignation and an independent investigation.

Madhabi Puri Buch, the Chairperson of the Securities and Exchange Board of India (SEBI), is currently at the center of a controversy involving serious allegations of conflict of interest. Reports indicate that while serving as a full-time member and later as the Chairperson of SEBI, Buch reportedly received a significant salary from ICICI Bank, totaling approximately ₹16.8 crores between 2017 and 2024. This income came in addition to her role at SEBI, raising serious ethical and legal concerns.

The Indian National Congress (INC) has sharply criticized Buch’s dual employment, arguing that it potentially compromises her impartiality and regulatory integrity. Given SEBI's critical role in overseeing financial institutions, including ICICI Bank, critics argue that such a financial arrangement could undermine SEBI’s ability to effectively regulate and adjudicate matters involving ICICI Bank.

These allegations have sparked widespread debate and led to calls for Buch’s resignation. The situation has intensified discussions around the oversight and ethical standards governing public officials, with many questioning how such a conflict of interest was allowed to persist under governmental oversight. The INC is demanding an independent investigation into these matters to ensure transparency and uphold the integrity of SEBI.

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SEBI Chairperson Madhabi Puri Buch Faces Conflict of Interest Allegations

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