In a bold move that signals escalating political tensions, the Congress party has launched a scathing attack on Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch. On Saturday, the party unveiled a new podcast titled “Buch Bachao Syndicate,” featuring prominent leaders Rahul Gandhi and Pawan Khera. This podcast marks a significant escalation in the Congress’s criticism of Buch, with Gandhi and Khera highlighting a range of concerns regarding her tenure.
The Congress leaders allege that Buch’s approach to market regulations has been marred by a series of missteps and potential conflicts of interest. They accuse her of failing to effectively protect the interests of retail investors, a claim that has been further fueled by a recent incident where Buch skipped a scheduled appearance before the Public Accounts Committee citing a last-minute emergency.
Following the podcast’s release, Rahul Gandhi took to Instagram to raise concerns about the “risks to billions of retail investors in the stock market.” In a pointed video message, he posed three pointed questions directly to Buch, demanding transparency and accountability.
The Congress’s aggressive campaign against Buch comes at a time when the party is facing internal challenges and attempting to regain political momentum. The party’s decision to target Buch, a figure widely respected in the financial world, suggests a strategy of using the issue of market regulations to generate public attention and potentially damage the image of the ruling government.
The accusations leveled by the Congress party have sparked intense debate and raised questions about the independence and efficacy of SEBI. The party’s allegations, if substantiated, could have far-reaching implications for investor confidence and the regulatory environment in India’s financial markets.
