The Securities and Exchange Board of India (SEBI) has been in the news for refusing to provide information about when its chairperson, Madhabi Puri Buch, and her family declared their financial assets. These declarations are an important part of ensuring transparency in public positions, but SEBI is choosing not to share the dates, which has led to some concerns.
What’s Happening with SEBI’s Response?
A Delhi-based transparency activist, Commodore Lokesh Batra, has been requesting this information under the Right to Information (RTI) Act. He only wants to know when these declarations were made, not the details of the assets themselves. However, SEBI has repeatedly refused to share the dates. They argue that this is private information, and sharing it would violate the privacy of Madhabi Puri Buch and her family.
Why is SEBI Saying No?
SEBI has given the reason that the dates of the asset declarations are personal and that revealing them would not serve any public interest. They also claim that since they hold this information in a special, trusted capacity, it falls under a rule that says such information doesn’t need to be shared.
But this refusal is a bit confusing. In 2022, SEBI had said that they have proper systems in place to handle conflicts of interest and that their chairperson regularly makes these declarations. So, it doesn’t quite add up why SEBI is now refusing to share something as simple as the dates of these declarations.
The Importance of Transparency
When it comes to public institutions like SEBI, it’s crucial for the public to trust them. If SEBI is unwilling to share even the basic dates of asset declarations, it could cause people to question their transparency and how accountable they really are. In the past, the regulator has said it supports transparency and fairness. Now, many feel that it should walk the talk and make sure that the public has access to this simple piece of information.
In the end, transparency is important for keeping trust in organizations that hold public positions. SEBI’s refusal to share the dates of Madhabi Puri Buch’s asset declarations doesn’t seem to align with their earlier commitment to transparency. Hopefully, they will reconsider and share this information to ensure they remain accountable to the public.
The refusal to provide such straightforward information may hurt SEBI’s image as an organization that champions fairness and openness. Therefore, it’s essential for SEBI to rethink its decision and build trust by sharing the requested dates.