Securities and Exchange Board of India (SEBI) withdrew the press release that alleged employees of being influenced by external elements and condemned the unauthorised release of internal communication, according to its statement.
“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 with a time-bound framework” said the markets watchdog said in its September 16 statement.
SEBI issued a statement on September 4, clarifying its positions on the employees’ demands in the matter of increased HRA among a list of 16 demands. The statement said that the new demands of the SEBI employees would add another ₹6 lakhs to their CTC, which already is about ₹34 lakhs, for grade A officers.
Moreover, the officers’ claimed unprofessional work culture to which SEBI said that that such claims were “misplaced” and that the junior officers had been “been receiving messages from external elements outside their group, effectively instigating them to …go to media, go to the Ministry, go to Board…, perhaps to serve their own purpose” the regulator said in its September 4 press release.
Following this, employees of SEBI staged a silent protest for about 90 minutes within the office premises on September 5. Details of the demands and the response of the leadership to the protests is not known.
About two weeks after the protest, SEBI chose to withdraw the press release saying that all concerns shall be amicably addressed thorough internal channels.
Published - September 16, 2024 05:08 pm IST
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
