Whalesbook
Kyun Hai Itna Hungama?
Asal mein, SEBI chahta hai ki exchange chiefs ki retirement age ko baki companies jaisa hi rakha jaye. Par market ke bade log, jismein bade stock aur commodity exchanges bhi shamil hain, isko bilkul pasand nahi kar rahe. Unka kehna hai ki agar age limit 65 par hi rahi, toh naye leaders time par aate rahenge aur purani soch ya unke upar dependency kam hogi. Agar 70 tak chala gaya, toh naye ideas aur tech-savvy logon ko mauka milna mushkil ho jayega, jo aajkal ke fast-changing market ke liye bahut zaroori hai.
Kuch Leaders Ki Tenure Aur SEBI Ke Andar Bhi Debate
Is rule change ko lekar SEBI ke andar bhi alag-alag views hain. Kuch officials ko lagta hai ki yeh change zaroori hai, jabki kuch oppose kar rahe hain. Examples ki baat karein toh, NCDEX ke MD & CEO, Arun Raste, June mein apna tenure poora kar rahe hain aur BSE Ltd ke MD & CEO, Sundararaman Ramamurthy, ne January 2023 mein role sambhala tha aur ab current age limit ke kareeb pahunch rahe hain.
Paisa Kitna Hai In Exchanges Ke Paas?
Yeh market infrastructure institutions bahut badi hain. BSE ki market value lagbhag ₹1.40 Trillion hai jiska P/E ratio 64.1 hai. MCX ki valuation ₹70,396 Crore hai aur P/E ratio 75.1 ke aas-paas. NSE, jo abhi listed nahi hai, woh toh ₹4.95 Trillion ki hai aur uska P/E ratio 20.85 hai. NCDEX ki market value ₹3,300-3,800 Crore ke beech hai. Isse pata chalta hai ki yeh firms kitni valuable hain.
Global Standards Aur Risk Kya Hai?
Global level par dekhein toh S&P 500 companies mein CEOs ke liye 65 aur board members ke liye 75 saal ki age limit hoti hai, lekin yeh bhi change hoti rehti hai. Wahi, IFSCA jaise international body 70 saal tak ke leaders ko allow karti hai. Indian industry ka dar hai ki agar age limit badh gayi toh purane leaders hi active rahenge, innovation ruk jayegi aur succession planning par bura asar padega. Yeh sabhi cheezein market ke governance ko affect karti hain.
Aage Kya Hoga?
Abhi yeh kehna mushkil hai ki SEBI is proposal par kya final decision legi. Industry ka strong virodh aur SEBI ke andar ki discussions ke baad, yeh ek lambi negotiation process ho sakti hai. Haal hi mein SEBI ne governance ko theek karne ke liye EDs (Executive Directors) ke liye bhi rules tight kiye hain, jinka tenure aur age limit bhi MDs jaisa hi hoga. Yeh pura maamla bahut important hai kyunki yeh India ke financial hubs mein leadership aur renewal ko decide karega.