SEBI Officers Stage Silent Protest Over Allowances And Leadership Issues

An image of the employees observing the protest has also been shared with NDTV Profit by the person quoted above.

The demonstration was driven by growing discontent among SEBI employees with the organisation's leadership, an issue that has been building over the past two-and-a-half years. Employees have expressed dissatisfaction with SEBI's allowances, which have not been updated to match those provided to RBI officers. 

Additionally, a new system for uploading key result areas has been introduced, with threats of allowance stoppage for non-compliance exacerbating the unrest.

Despite a follow-up apology email from SEBI attempting to address these grievances, employee agitation has persisted. According to the person mentioned earlier, who spoke on condition of anonymity, there is a broader issue of mistrust within the organisation. 

Meanwhile, as a minor relief to the employees, the HRA of officers across grades A to F has increased.

While SEBI is making efforts to improve conditions for external stakeholders, the growing mistrust among its own employees remains a critical issue.

When NDTV Profit previously reported on the protest, the SEBI Employee Association and the SEBI Employee Association for Legal Stream responded, describing the reports of discontent as "misinformation." They emphasised that employee-related issues are critical to SEBI and that SEA and SEALS regularly engage with SEBI management on HR-related matters, including allowances, in a consultative manner.

However, the person quoted above suggested that the employee association's statement didn't reflect the majority's true feelings.

Around 200 employees participated in the protest. The regulator has around 1,000 employees.