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By:

Abhijit Mulye

21 August 2024 at 11:29:11 am

Maratha quota stir poised for revival

Manoj Jarange issues August ultimatum as CM cites record certificate distribution Mumbai: Maharashtra is bracing for renewed political turbulence as the Maratha quota agitation threatens to engulf the state once again. Prominent activist Manoj Jarange Patil has sounded a clarion call for a final, decisive protest beginning August 29, marking the third anniversary of the community’s relentless struggle. In stark contrast, Chief Minister Devendra Fadnavis has stepped in to defuse the escalating...

Maratha quota stir poised for revival

Manoj Jarange issues August ultimatum as CM cites record certificate distribution Mumbai: Maharashtra is bracing for renewed political turbulence as the Maratha quota agitation threatens to engulf the state once again. Prominent activist Manoj Jarange Patil has sounded a clarion call for a final, decisive protest beginning August 29, marking the third anniversary of the community’s relentless struggle. In stark contrast, Chief Minister Devendra Fadnavis has stepped in to defuse the escalating tensions, asserting that the government remains highly responsive to the community’s demands and that the pendency of caste certificates is virtually negligible. Addressing a massive press conference at Antarwali Sarati in the Jalna district of Marathwada, Jarange Patil expressed deep frustration with the state administration. He accused the government of deliberately deceiving the Maratha community and employing delaying tactics. According to the activist, the state has discovered approximately 58 lakh Kunbi caste records, yet the administration continues to withhold vital Kunbi certificates from eligible Maratha community members. Issuing a stern ultimatum, he demanded that caste certificates based on the Hyderabad gazette be issued to all rightful beneficiaries by August 28. Failing this, he warned, a massive mobilization will commence from every village across the state starting August 19. He passionately stated that the community has been sacrificing its blood for the youth for three years and will not back down until the issue reaches a logical conclusion. Robust Defence Countering these allegations, CM Fadnavis presented a robust defence of the Mahayuti government’s track record while speaking to the media in Nagpur. He emphasised that caste certificates are processed and issued promptly upon request. He firmly stated that everyone who has applied for a caste certificate has received it, adding that the number of pending cases is exceedingly low. Fadnavis dismissed the notion that certificates are being arbitrarily denied, reinforcing that the current administration has made and executed more pro-Maratha decisions than any previous government. He maintained a conciliatory tone, noting that the administration remains open to dialogue and is willing to find constructive solutions if any genuine grievances persist. Progress Report The state government’s claims are corroborated by the latest progress report from the Justice Sandeep Shinde committee, which was established to oversee the distribution of Maratha-Kunbi, Kunbi-Maratha, and Kunbi certificates. As of July 27, 2026, the data from the Divisional Commissionerate in Chhatrapati Sambhajinagar paints a picture of swift administrative action in Marathwada. Out of a total of 311,609 applications received, a staggering 311,033 applicants have been successfully issued Kunbi certificates. Only 515 applications faced rejection, while a mere 61 remain pending across the division. Furthermore, officials noted that 72,012 certificates have been distributed in the region from September 2025 to the present date. A district-wise analysis of the Marathwada region highlights this extensive distribution network. In Beed district, the administration achieved a near-perfect clearance rate, distributing 206,789 certificates against 206,799 applications, with zero pending files currently. Chhatrapati Sambhajinagar saw 25,211 certificates issued from 25,295 applications, leaving only 15 pending. Similarly, Jalna district processed 18,128 applications to distribute 18,053 certificates, with just 13 awaiting approval. Parbhani and Hingoli districts reported the distribution of 20,832 and 13,286 certificates, respectively, with negligible pendency. Nanded district cleared all its 4,841 applications with no backlog, while Latur and Dharashiv districts successfully distributed 2,751 and 19,281 certificates, respectively. Demands’ Charter Despite these administrative milestones, Jarange Patil has expanded his charter of demands, intensifying his critique of the state’s welfare mechanisms. He has now called for the creation of a dedicated Maratha welfare department, questioning why the Maratha community cannot have a separate ministry similar to the one existing for OBCs. He alleged that nine ministers in the current coalition are actively opposing this proposal, threatening to expose their names during the mega rally on August 29. Furthermore, he lashed out at the government over the systemic failure in implementing existing welfare schemes. He claimed that despite official resolutions granting Maratha students parity with OBC students, educational institutions are not enforcing these benefits at the school and college levels. He also accused the state of shutting down initiatives under the Sarathi institute and noted that flawed loan processes under the Annasaheb Patil Corporation are turning into bad debts, effectively ruining the CIBIL scores of young entrepreneurs. Capping off his grievances, Jarange Patil alleged a discriminatory bias in government recruitment, questioning the state administration over what he termed an “apartheid” against Maratha candidates.

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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