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By:

Rajendra Pandharpure

15 April 2025 at 7:55:54 pm

The BJP’s Ganesha Gambit

Pune’s Ganeshotsav has become an enormous civic and political stage, and the ruling party has proved adept at occupying it. Pune: The city’s Ganeshotsav is entering its final phase, but the festival has already demonstrated something beyond its extraordinary crowds and familiar spectacle: the extent to which it has become a political stage. This year, the Bharatiya Janata Party (BJP) has left a particularly visible imprint on the festivities, using an event that reaches deep into the city’s...

The BJP’s Ganesha Gambit

Pune’s Ganeshotsav has become an enormous civic and political stage, and the ruling party has proved adept at occupying it. Pune: The city’s Ganeshotsav is entering its final phase, but the festival has already demonstrated something beyond its extraordinary crowds and familiar spectacle: the extent to which it has become a political stage. This year, the Bharatiya Janata Party (BJP) has left a particularly visible imprint on the festivities, using an event that reaches deep into the city’s neighbourhoods as an opportunity for public outreach. The political appropriation of the festival has not, however, been without a counter-current. Demands were raised for curbs on noise pollution, loudspeakers and the volume of dhol-tasha performances. The argument was not against Ganeshotsav itself, but for moderation - notably, a complete ban on DJ music and limits on the number of dhol and tasha instruments used by performing troupes. Familiar Troubles The festival’s reality has been rather different. Major roads have been occupied by mandaps. Processions celebrating the arrival of Lord Ganesha have unfolded amid punishing noise. DJ music, while subject to restrictions, has continued. Traffic congestion has become a familiar feature of the festival, with the movement of political leaders adding another layer to the city’s already strained roads. The Peth areas have remained crowded deep into the night. The Shrimant Dagdusheth Halwai Ganpati temple has drawn enormous crowds for darshan from the opening day. From the old city to housing societies and neighbourhood mandals, Ganeshotsav touches virtually every part of Pune. For a political party seeking a direct connection with citizens, few occasions offer such a ready-made network of people, institutions and local influencers. The BJP enters this festival with an unusually formidable organisational base. It has two MPs, seven MLAs and more than 100 corporators in Pune. Murlidhar Mohol, one of the city’s MPs, is a Union Minister of State. Chandrakant Patil is a Cabinet minister in the Maharashtra government, while Madhuri Misal is a Minister of State. The party’s presence also extends into the festival’s organisational architecture. Its influence is visible across numerous mandals, large and small. BJP MLA Hemant Rasane is General Secretary of the Shrimant Dagdusheth Halwai Sarvajanik Ganpati Trust. Kunal Tilak, a member of Lokmanya Tilak’s family, is a BJP corporator. The political and cultural histories of Pune therefore intersect in ways that are difficult to ignore. The BJP’s senior leadership has also made the most of the occasion. National President Nitin Nabin visited Pune to seek Lord Ganesha’s blessings, while Chief Minister Devendra Fadnavis visited the city before and during the festival. Such visits are about more than religious observance. In a festival watched by millions and embedded in the city’s social life, political visibility comes almost automatically. There is also talk in Pune that the BJP provided substantial financial support to Dhol-Lezim troupes and their organisers, with claims that some major mandals received financial backing as well. These claims would require independent verification, but the perception itself points to the depth of the political contest around Ganeshotsav. BJP workers, according to local observers, have also sought to make their presence more conspicuous than that of festivities organised by housing societies. Useful Expedient The festival arrives at a politically useful moment for the BJP. The party has faced disquiet on several fronts. Young people have been agitated over the paper-leak controversy. Broader public dissatisfaction has been voiced over inflation and unemployment, while government policies relating to ethanol and charges associated with UPI transactions have also generated criticism. While a political party can defend a policy in a press conference and advertise its achievements, during Ganeshotsav, its workers can be physically present in neighbourhoods, among processions, mandals, cultural groups and devotees. Politics thus becomes less about argument and more about visibility. That is the BJP’s advantage in Pune. Ganeshotsav, after all, is not simply a sequence of religious rituals. It is an elaborate civic network involving local organisers, volunteers, cultural groups, businesses, residents and political representatives. Whoever has influence over that network acquires a powerful channel of communication with the city. The BJP appears to understand this particularly well. Its strength in Pune’s electoral politics has been reinforced by a presence that extends beyond elections and into the institutions and social spaces that organise public life. The irony is that the very scale of the festival that makes it politically attractive also magnifies the civic costs. The political value of Ganeshotsav and the civic burden it creates are therefore two sides of the same phenomenon. For Pune, the larger question is not whether politics has entered Ganeshotsav. It has done so for decades. The more consequential question is whether the festival’s extraordinary social capital will remain primarily a vehicle for political outreach or whether the same influence can be used to reconcile celebration with the ordinary civic needs of the city. For the moment, the BJP seems to have understood the first proposition better than most.

Lateral upgrade to ailing annihilation

Writer: Mangesh Kulkarni
Mangesh Kulkarni
Sep 9, 2024
3 min read

Updated: Oct 21, 2024

Lateral upgrade to ailing annihilation

Being the first person from the private sector to be appointed as chairperson of Securities and Exchange Board of India (SEBI) as part of the government’s lateral initiative, Madhabi Puri Buch also holds the honour of being the first woman to hold the top post as capital market regulator.

But the laurels that the former private sector banker enjoyed in her earlier stint with ICICI Bank, was marred with allegations that she and her husband were having a stake in offshore entities, which were used to artificially inflate shares of Adani group companies.

Terming the allegation as `character assassination, Buch clarified that all disclosures have already been furnished and the fund in question did not invest in any securities involving the Adani group.

When it rains, it pours. This allegation was subsequently followed by Congress Party allegation that Buch had received salary and post-retirement benefits from ICICI Bank after she quit the private sector bank.

In its clarification to the stock exchanges, ICICI Bank asserted that the payments made to Buch were purely retirement benefits after her exit from the bank and they were neither salary nor employee stock options.

Prior to these allegations, Buch tenure at SEBI was all about bringing in quick reforms on operational issues by changing the format of consultation paper to bring in larger responses digitally. Being data savvy, the rationale of her decisions were democratic based on big data analysis derived from the responses received to the consultation papers.

Further she bifurcated the duties of the SEBI staff between operations and enforcement, which were done by the same persons earlier. Having worked for the private sector in the capital market domain space, Buch had a better understanding of the subject compared to officers from the administrative service in the past that reflected even in her orders as a whole-time director at SEBI before becoming the chairperson. As a whole time director at SEBI, her orders on adjudication issues were more directional to the capital market space, according to experts in the compliance space. She was also quick to revamp the old provisions of the 90s at SEBI.

Being tech and data savvy, Buch enhanced regulatory surveillance and detection of market manipulation, insider trading and fraud while also emphasizing on strengthening corporate governance by introducing stricter rules for independent directors and enhancing disclosures for related-party transactions.

To put in perspective, the annual report of the capital market regulator in the just concluded financial year revealed that the number of investigations related to insider trading jumped to 175 in 2023-24 from 85 in the preceding year while probes related to front running jumped over three times to 83 from 24 in the preceding year.

Transparency in mutual funds by implementing measures to protect retail investors along with tightening norms for initial public offers, particularly in the SME platforms were some of her other positive initiatives including confirmation of denial of any market rumours within 24 hours for the top 100 listed companies which will be extended to top 250 companies from December 1. However increased transparency and compliance with tightening regulations led to increased operational costs for the market participants and hence faced resistance from certain quarters. Born in 1966, Buch completed her primary education in Mumbai and graduated with specialization in Mathematics from Delhi and later obtained a management degree from Indian Institute of Management, Ahmedabad. In between, she got engaged to Dhawal Buch, a director at a consumer goods multinational at the age of eighteen and got married at the age of 21.

Besides ICICI Bank, Buch also worked as a lecturer at a college in England, worked at Greater Pacific Capital in Singapore and ICICI Securities as its CEO. She also worked as executive director on several private sector companies and as a consultant for New Development Bank (Brics Bank).

What now remains to be seen, is whether Buch, who survived the 26/11 terror attack when she along with her husband, was attending a meeting at Taj, be able to overcome the current ordeal. Keeping fingers crossed for the times to come.

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