Amid a political storm over allegations of conflict of interest against SEBI chairperson Madhabi Buch, the Parliament’s Public Accounts Committee has decided to review the performance of regulatory bodies established by Acts of Parliament.
The Public Accounts Committee (PAC), chaired by Congress leader and Lok Sabha member K C Venugopal, decided to include suo-moto subjects — performance review of regulatory bodies established by Acts of Parliament, reforms in banking and insurance sector, review of implementation of centrally sponsored welfare schemes — as part of its agenda that includes a total of 161 subjects.
Buch is facing allegations of conflict of interest over the Securities and Exchange Board of India (SEBI) investigation into the Hindenburg Research claims against the Adani Group.
The Congress has questioned payments made to Buch made by ICICI Bank, her former employer, after she became a whole time member of SEBI, and sought an independent probe into the matter.
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