look news india
Amidst many allegations against SEBI chief Madhavi Puri, now SEBI officials and employees have sent a letter to the Finance Ministry saying that a 'toxic work culture' prevails in SEBI under Madhavi's leadership. There is an atmosphere of fear in SEBI for the last two days – three years.
Yelling, scolding and public humiliation have become common in SEBI meetings. Some employees in positions of power are called names and no one from the senior management comes forward to defend these employees.
Uses harsh and unprofessional language with staff
The letter also alleges that the senior management has neglected to adopt the best human management, leadership and motivation methods towards employees. Harassment and unprofessional language with employees must stop. The letter states that turnstile gates have been installed to monitor the intra-day attendance of SEBI employees and keep full control over their every activity. Apart from this, SEBI has also increased the Key Result Area (KRA) target for the current financial year from 20 to 50, which SEBI employees consider unrealistic. In the letter, SEBI employees have even said that they are not robots whose output can be increased by pressing a button. The workload of the in-house mental health counselor has also increased due to SEBI employees facing mental health problems.
SEBI's board denied the allegations
Late in the evening, the SEBI board has rejected all the allegations of the employees. SEBI said that this is happening as part of some personnel strategy. They want to exploit themselves by spreading false and misleading news about the working conditions. SEBI said that the employees were demanding a 55 percent increase in HRA. Also, their complaints about KRA are baseless. The employees are creating pressure by going to the media and the ministry.
