Congress Raises Conflict-of-Interest Allegations Against SEBI Chairperson Madhabi Buch

The Congress questioned ICICI Bank's claim of not paying Madhabi Buch, the SEBI Chairperson, any salary or ESOPs post-retirement. They alleged inconsistencies in the frequency and amount of her receiving retiral benefits and accused the Prime Minister of conflict-of-interest in her appointment. The bank denied these claims.

The Congress Party has leveled serious conflict-of-interest allegations against SEBI Chairperson Madhabi Buch, questioning ICICI Bank's assertion that it has not paid her any salary or ESOPs post-retirement. The party insists that Buch has been drawing benefits inconsistently from the bank since her retirement in 2013.

In a statement released by its media and publicity department head, Pawan Khera, the Congress claimed ICICI's responses inadvertently confirm their allegations. They pointed out discrepancies in the payment of retiral benefits to Buch, suggesting these were non-uniform in both frequency and amount.

The opposition party also called on Prime Minister Narendra Modi to clarify Buch's appointment as chairperson of SEBI, given the alleged ongoing financial relationship with ICICI Bank. Despite the bank's denial, the Congress demands additional transparency regarding her compensation post-retirement.

(With inputs from agencies.)