SEBI chief received more pension than salary from ICICI Bank: Congress
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New Delhi: The Congress on Tuesday claimed that Madhabi Puri Buch, who is chairperson of Securities and Exchange Board of India, received more money as pension from ICICI Bank than the salary she had drawn while working there, Scroll reported.
Congress spokesperson Pawan Khera detailed that Buch, who retired from ICICI Bank in October 2013, had drawn an average annual salary of Rs 1.3 crore but ended up receiving an average annual pension of Rs 2.77 crore after retirement. She had joined the bank in 2007.
Pawan Khera asked, without disclosing the source of the data, which job could have more pension than salary.
Khera brought to fore these details a day after ICICI Bank denied paying a salary or granting Employee Stock Ownership Plan benefit, which gives employees an ownership stake as equity shares, to SEBI chief after her retirement from the company.
The bank gave the details responding to the allegations raised by the Congress that Buch had drawn an ‘income of Rs 16.8 crore from the ICICI Bank between 2017 and 2024.’
The Congress also raised a ‘conflict of interest’ in this context pointing out that Buch joined the Securities and Exchange Board of India whole-time director in April 2017 and became its chairperson in March 2022.