SEBI Chairperson Madhavi Puri Buch’s Statement Sends Indian Markets Spiraling: Investors Lose Rs. 14 Trillion

SEBI Chairperson Madhavi Puri Buch’s statement stirs the Indian stock market on March 13, 2024. Consequently, investors lost Rs 14 trillion on that day, which proved to be a dark day for Indian investors. She commented on the valuation of small and mid-cap companies, hinting at flaws reminiscent of bubbles that could burst anytime. Some analysts believe that this statement was intended to alert investors to market vulnerabilities. However, experts suggest that individuals occupying government or constitutional positions should evaluate their statements before making them public, as even minor negative remarks can cause market turmoil. Unfortunately, this was evident in this case, as Madhavi Puri Buch’s statement shook the market’s foundation, causing investors to lose billions.

Critics allege that she is part of a group whose strong advocate, Raghuram Rajan, opposes the government’s economic policies. This may have contributed to her removal from the position of RBI Governor. Perhaps for this reason, accusations are now being levelled against Madhavi Puri Buch for echoing Raghuram Rajan’s language. It’s worth noting that Raghuram Rajan has been a close friend of hers since their days at IIM Ahmedabad.

SEBI Chief’s Comment

On March 11, during a program at AMFI in Mumbai, Madhavi Puri Buch, in her address as SEBI Chairman, declared that the Indian stock market had crashed. She pointed out several bubbles in the equity markets, particularly in small and mid-cap sectors, which could adversely affect investors. Additionally, she claimed that based on SEBI’s data analysis, many cases indicated overvaluation of small and mid-cap shares. Thus, SEBI directed mutual funds to thoroughly scrutinize their small and mid-cap fund portfolios to assess their liquidity and stability compared to benchmarks.

On the third day after her statement, Indian Express published a report analyzing the situation post-Madhavi Puri Buch’s statement and its impact on investor sentiment. Analysts believe that her statement caused upheaval in the market, resulting in investors losing nearly Rs. 14 trillion.

It’s also noteworthy that startups and small to mid-cap companies in India play a vital role in the economy. However, Madhavi Puri Buch’s statement during the election season has raised eyebrows among economists. Perhaps her statement is part of a strategic tactic against the Indian government and the economy.

Finance Minister Expresses Confidence in the Market

Following Madhavi Buch’s statement, Finance Minister Nirmala Sitharaman made positive remarks to dispel market uncertainties. She reiterated her confidence in the markets and stressed the need for markets to operate independently, based on their knowledge. She cited the resilience of the Indian market despite significant fluctuations globally, asserting her faith in it.

Foreign Conspiracy Concerns

Last year, when Hindenburg Research released a report attacking the Indian economy, George Soros’ name surfaced. Madhavi Puri Buch was serving as SEBI Chairman at that time. Now, just before the elections, serious questions are being raised about her statement. Is this sudden turn of events a well-thought-out strategy against the Indian government and the economy? Certainly, Indian investigative agencies will delve deep into this matter, especially considering George Soros’ history of running campaigns against various countries to fulfill his interests.

Who is the George Soros?

George Soros is one of America’s prominent businessmen, albeit with a controversial image. He is a storied investor and entrepreneur, often referring to himself as a philosopher and social activist. He is accused of influencing politics and society in many countries. Soros donated over $32 billion to the Open Society Foundations, an organization known for issuing sensational reports against various countries. The Hindenburg Reserve, which released a controversial report against Indian businessman Gautam Adani and Prime Minister Narendra Modi last year, is also allegedly supported by George Soros. It’s alleged that he has funded massive campaigns in several countries to influence elections. It’s noteworthy that Lok Sabha elections are approaching in India.

Not Spared in the Supreme Court

In January this year, the Supreme Court dismissed a report by the Organized Crime and Corruption Reporting Project (OCCRP), which called for an investigation against the Adani Group. This report also accused the Adani Group of stock manipulation and SEBI’s failure.

George Soros or Hindenburg Connection

It’s worth noting that Raghuram Rajan’s wife, Radhika Puri, who teaches at the University of Chicago, is linked to the fund manager George Soros. Soros, the infamous fund manager who funds groups campaigning against various countries, is also implicated behind the Hindenburg Reserve, which released a sensational report against Indian businessman Gautam Adani and Prime Minister Narendra Modi last year. Certainly, the association of Raghuram Rajan, Radhika Puri, and SEBI Chairman Madhavi Puri Buch has intensified suspicions and made her statement even more serious, causing Indian stock markets to lose billions of rupees. Because every stalwart associated with the economic system knows that Raghuram Rajan often questions every achievement of development and economy-related to the government. They are very close friends with Radhika Puri and SEBI Chairman Madhavi Puri Buch since their days at IIM Ahmedabad. It’s also worth mentioning that whenever Madhavi Puri Buch goes to America, she definitely meets Radhika Puri Rajan.

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