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By:

Prithvi Asthana

20 August 2025 at 5:20:30 pm

‘Just the beginning of the new revolution’

Gen Z says their next target is Nitin Gadkari and Nirmala Sitharaman Mumbai: Dancing on the tunes of ‘Zinghaat’, the Gen Z at Dadar, was celebrating Dharmendra’s Pradhan’s resignation. The ‘Tiranga’ rally called up by Thackeray brothers on Thursday for protesting was turned into a celebration rally after Pradhan’s resignation. ‘The Perfect Voice’ went on ground to know the real reaction of the Gen Z at the rally. A NEET student who gave the NEET and re-NEET exams this year, said that she...

‘Just the beginning of the new revolution’

Gen Z says their next target is Nitin Gadkari and Nirmala Sitharaman Mumbai: Dancing on the tunes of ‘Zinghaat’, the Gen Z at Dadar, was celebrating Dharmendra’s Pradhan’s resignation. The ‘Tiranga’ rally called up by Thackeray brothers on Thursday for protesting was turned into a celebration rally after Pradhan’s resignation. ‘The Perfect Voice’ went on ground to know the real reaction of the Gen Z at the rally. A NEET student who gave the NEET and re-NEET exams this year, said that she feels very happy that he has resigned now, and today all the students have won this battle. “I felt quite devastating when I heard about the paper leak. After the leak it was very tough to study again because I am in 12th standard as well. I was de-motivated and did not want to study again but I had no other option. I was continuously studying for seven months. It took a lot of toll on my mind, I was not able to focus on my 12 th standard. ” Talking about the results she said, “ I was not satisfied with the marks I got in re-NEET, and will take a drop. Looking at the sad state of Indian education system, I will go to study abroad.” A commerce student, present at the site, said, “ Now they know what will happen if they continue to repeat mistakes like this.” New Revolution A law student, Pranjal Khatu, said that this resignation will act as a deterrent for the government. She said, “This movement has established fear in government’s mind. This punishment given by the Gen Z will now actually send a message that the ministers should work responsibly, while listening to its public. I want to say thank you to PM Modi, because of him people from all religions have come together to hate someone.” Saying that this is just the beginning. This is just the beginning of the resignations, we are going to demand more resignations, the new revolution has just begun.” Sampada More, a graduate, said that it will definitely establish fear, but the government should have listened to us earlier, they should not have stretched this matter so long. “The next number is of Nitin Gadkari and Nirmala Sitharaman,” she said. A MBBS doctor in Nutraceuticals, joined the rally as well. She said, “He was supposed to resign way before. The government has clearly failed, because as Gen Z we were standing with the Truth, we are standing for what India’s stands as democracy. This is the reason we won the and the government lost. We are going to demand resignation of the Punjab minister responsible for Pharmacy exam paper leak. We will also demand the resignation of corrupted ministers like Nitin Gadkari and Nirmala Sitharaman next.” Fighting for Justice A class seven student rallying with his parents said, “We have finally got justice. I am very proud taking part in the rally and standing for my future. I supports this movement because when I grow up, I do not want any paper leaks happening at that time. I want to see some better minister who actually also focuses on the security of the examination system.” Another student currently in fourth year engineering said, “ This was the tipping point and we actually tried protesting before this as well but we were supressed a lot of times, but this time the government was not able to supress us because it was large. The CJP has done a commendable job in uniting youth of this country, and I am glad that he has taken the accountability and resigned.” Jay, a MBBS student said, “This is a celebration of togetherness, I have never seen such celebration in long time. This is a new sort of Independence.” Demanding more resignations, he said, “This will continue, the stars have aligned with us. This is Inqualab Zindabaad.”

Lateral upgrade to ailing annihilation

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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