SEBI Withdraws Contentious Statement Amid Employee Unrest

On Monday, SEBI withdrew its statement blaming external forces for employee protests, pledging to address concerns internally. This retraction follows a significant protest on September 5. Employees had accused SEBI of having a toxic work culture and demanded leadership changes. The recent action marks a major shift in SEBI's approach, focusing on internal resolution.

SEBI on Monday retracted its earlier statement blaming 'external elements' for employee unrest, opting instead to address the concerns 'amicably through internal channels'.

The volte-face comes nearly two weeks after a significant protest on September 5, where hundreds of employees gathered at the regulator's headquarters. The employees demanded the withdrawal of SEBI's September 4 press release and the resignation of chairperson Madhabi Puri Buch.

The initial statement suggested that the protests were influenced by external forces aiming to undermine SEBI's credibility and leadership. However, the recent withdrawal emphasizes the regulator's commitment to resolve issues internally and uphold high standards of governance.

(With inputs from agencies.)