SEBI chief received more pension than salary from former employer ICICI bank, alleges Congress
The bank paid Madhabi Puri Buch an average annual pension of Rs 2.7 crore after retirement, while her average annual salary was Rs 1.3 crore, the party claimed.
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The Congress on Tuesday alleged that Securities and Exchange Board of India chairperson Madhabi Puri Buch received more money as a pension after retiring from ICICI Bank than the salary she drew while working there.
Buch retired from ICICI Bank in October 2013. She had joined the bank in 2007.
Congress spokesperson Pawan Khera has claimed that Buch drew an average annual salary of Rs 1.3 crore during her employment, but received an average annual pension of Rs 2.77 crore after retirement.
“Which is the job in which the pension is more than the salary?” Khera asked at a press conference on Tuesday without disclosing the source of the data.
Khera’s claims came a day after ICICI Bank denied paying a salary or granting Employee Stock Ownership Plan benefits to Buch after she retired from the company. An Employee Stock Ownership Plan gives employees of a company an ownership stake in the form of equity shares.
The bank was responding to allegations made by the Congress that Buch drew an income of Rs 16.8 crore from the ICICI Bank between 2017 and 2024.
The Opposition party alleged that this presented a conflict of interest as Buch had joined the Securities and Exchange Board of India as a whole-time director in April 2017. She became its chairperson in March...
