Congress Alleges Conflict of Interest Against SEBI Chairperson

The Congress on Monday accused SEBI Chairperson Madhabi Buch of a conflict of interest, alleging she received income from ICICI Bank while serving at SEBI. They demanded her dismissal and asked for a Supreme Court intervention. The Congress claims these revelations compromise the integrity of the regulatory body.

The Congress on Monday accused SEBI Chairperson Madhabi Buch of a conflict of interest, pressing Prime Minister Narendra Modi to clarify her appointment by the appointments committee of the cabinet.

In a press briefing, Congress demanded Buch's immediate dismissal, claiming she received a salary from ICICI Bank while drawing her SEBI paycheck. They also called for the Supreme Court to investigate these fresh allegations, aiming to protect the hard-earned money of small and middle-income investors.

There was no immediate comment from Buch or ICICI Bank. Congress leaders emphasized that this conflict of interest has a damaging impact on SEBI's credibility and integrity. They underscored that Modi and Shah cannot distance themselves from these revelations.

(With inputs from agencies.)