MUMBAI: The larger goal of the market makers should be better inclusion, not just in terms of gender or socioeconomic fronts, but in terms of language inclusion, Sebi chief Madhabi Puri Buch said on Monday. It’s the time market participants should communicate with the larger public in their respective languages.
Stating that economic prosperity will not be complete unless there is better inclusion and participation of larger section of people in the markets, Buch said, “The inclusion I am referring to is not just about gender inclusion, not just about socioeconomic inclusion, it is also about language inclusion.”
“Today, we’re fortunate that with the help of AI, language barriers should be a thing of the past. We need to simplify the English in our regulation. We will need to move past that and say why we don’t have IPO summaries in 15 languages or 27 languages?” she asked addressing a CII event.
She said that such inclusion will be important driver for Sebi. Buch, under political heat after the US shortseller Hindenburg made allegations last month, came under fresh attacks earlier in the day with the Congress party making fresh allegations that she drew salary to the tune of Rs 16.8 crore between 2014 and 2019 from ICICI Bank group, her first employer, when she was a whole-time member of the Sebi.
After the speech, she refused to meet the media. ICICI Bank has denied the charges against it regarding paying salaries to Buch who now heads the Sebi saying it has not paid any salaries or granted Esops to after her retirement on October 31, 2013.