SEBI employees' group protests Garg's appointment as executive director

Appointment is a deviation from established practice followed in organisations like the Reserve Bank of India, says association

SEBI’s decision to appoint GP Garg as executive director (ED) has sparked a "strong protest" from the market regulator’s employee association, which has objected to the practice of appointing outside persons or those from non-core streams.

In a letter dated August 21 to Sebi chairman Ajay Tyagi, the Sebi’s Employee Association (SEA) said: "we strongly protest the decision to ignore and sideline general stream officers in ED level promotion."

The appointment is a deviation from established practice followed in organisations like the Reserve Bank of India, it says.

SEA said employees feel "betrayed, shocked and devalued" on the side-lining of