Madhabi Puri Buch's 2nd yr in office: Pivoting towards a balanced approach

Buch-who oversees India's $4.7 trillion equities market-doesn't plan to rest on her laurels and has set out an ambitious goal such as moving towards instantaneous settlement cycle for secondary market

Madhabi Puri Buch’s first year as chief of the Securities and Exchange Board (Sebi) was underscored by speedy reforms. During the second year of her initial three-year tenure, Buch pivoted towards a more balanced approach — placing more emphasis on consensus-building even as the reform process slowed.

The changed approach was evident as Sebi put nearly half a dozen key proposals on the back burner, set up an Industry Standards Forum for policy implementation, and delayed the implementation of the new disclosure around verification of market reforms.

Among the reforms in cold storage are the total expense ratio framework for