Security and Exchange Board of India (SEBI) Madhabi Puri Buch, head, has said that to achieve the T+0 settlement i.e. on the day of sale of shares, a lot of problems had to be solved and there were inconveniences at the personal level. He said that to achieve something first at the global level, a lot of hard work is required and it is just like peeling off ‘layer by layer of an onion’. Speaking at the annual convocation of the Indian Institute of Management Ahmedabad (IIMA), Buch also said that the current generation of Indians is on the way to see India reach new heights.
“My colleagues often tell me that solving a problem with me is like peeling off layers of an onion,” he said while addressing IIMA students as the chief guest of the 59th annual convocation on Saturday. This process causes problems for everyone. But when you peel the onion layer by layer, you suddenly realize there is no such problem left.”
do the right thing no matter how hard
Stock exchanges BSE and NSE on Thursday introduced a ‘beta’ version of T+0 or same-day trade settlement on an optional basis for select stocks. Under this system, investors are currently given the option to transact in 25 securities. Butch said that he strongly adhered to the mantra of doing what is right, no matter how difficult, he left no stone unturned to achieve it. “I believe my mantra is very simple,” he said. Do the right thing, no matter how hard it is. Leave no stone unturned, no matter how difficult it may be. The wonderful thing about this is that eight times out of ten you actually succeed. And the two times you don’t do it, you don’t have any regrets at all.”
Find your own mantra
Butch said students will find their own mantra moving forward. It will be easy for them to work with this mantra. The SEBI chief also told the students that if they find their journey smooth and pleasant then they should not think too much. ‘Just go with the flow.’ Butch said his generation participated in the rise of a new India and was very fortunate in that respect. “In my view, your generation is even more fortunate,” he said. You are on your way to see the heights of new India.
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