Sebi rebuts allegations of employee mistreatment, improper work culture

The Securities and Exchange Board of India (SEBI) on Wednesday denied the allegations of fostering a toxic work culture as "misguided" and an attempt to undermine employee capabilities. The market regulator clarified that its recent human resource (HR) initiatives were designed to acknowledge deserving employees through objective performance evaluations.

In a press release, the market watchdog stated that its junior employees were misinformed about automatic promotions and underpaid despite having a cost-to-company of Rs 34 lakh per annum. They were also made to believe they should not be held to high accountability standards.

SEBI stressed that the email did not come from employee associations, which had actually condemned it. The market regulator also suggested that “junior officers have been receiving messages from external elements outside their group, effectively instigating them to go to the media, go to the ministry, go to board…perhaps to serve their own purpose.”