Mint Quick Edit | Sebi’s talks with employees are a good sign

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Subscribe to enjoy similar stories. The Securities and Exchange Board of India (Sebi) is trying to dial back tensions with its staff members who had complained of a “toxic" work environment.

On Monday, the capital markets regulator withdrew its 4 September statement that sought to defend itself against complaints by saying that these were being instigated by external elements to undermine the organization and its leadership. Instead, Sebi will now discuss the causes of employee discontent internally, so as to settle the work-related problems its staff members may have.

What had added grist to the mill was the fact that the disgruntlement aired by them had coincided with the political heat being faced by Sebi chief Madhabi Puri Buch over conflict-of-interest allegations made by India’s main opposition party, the Congress, which levelled fresh charges on Saturday, a day after Buch and her husband Dhaval Buch issued a statement to counter previous ones. At least on the matter of Sebi’s work atmosphere, talks could lead to a mutually acceptable resolution.

On the whole, it is unfortunate that the country’s market regulator finds itself in the news so frequently for the wrong reasons. This is not good for our capital markets.