SEBI Chairperson Madhabi Puri Buch, likening the process to “peeling an onion,” remarked that achieving the global first of T 0 settlement required considerable troubleshooting and personal discomforts.
Addressing the annual convocation of the Indian Institute of Management Ahmedabad (IIMA) on Saturday, Buch expressed her belief that the present generation of Indians is poised to witness the zenith of the new India.
“My colleagues often tell me that problem-solving with me is like peeling an onion. It makes everybody cry in the process. But by the time you are done, peeling layer after layer after layer of the onion, you suddenly realise there is no problem left,” she said while addressing students of IIMA as the chief guest of the 59th annual convocation.
On Thursday, the BSE and NSE debuted the beta version of T 0, a same-day trade settlement system for select stocks. This optional service allows investors to engage in transactions for 25 securities with settlement occurring on the same day.
“When India became the first large market in the world to move to T 1 settlement, and just two days ago when we went live with an optional T 0 settlement, the process felt pretty much the same–lots of onion peeling happened to make for a global first,” Buch said.
Buch stands out as the inaugural woman to lead the Securities and Exchange Board of India (SEBI), the capital markets regulator. She emphasized her steadfast commitment to doing what’s morally sound, regardless of difficulty, and spared no effort in her endeavors, no matter the challenge.
“I believe that at a conscious and a subconscious level, my mantra has been very very simple. Do the right thing, no matter how hard. Leave no stone unturned, no matter how hard. The wonderful thing about this mantra is that eight times out of ten you actually succeed. And the two times that you don’t, you have absolutely no regret,” she added.
Buch elaborated that graduates will eventually unearth their personal guiding principle for moving ahead, serving as their natural “default setting” for effortless operation. “Until you uncover this mantra, it’s akin to possessing a quiver of arrows, some sharp, some dull.”
And as you aim for the goals that you choose, you may find that your sharp arrows were perfectly well, wonderful, or that you need to sharpen some of your arrows,” the SEBI chief said.
She also asked students to not overthink if it feels effortless and enjoyable in their journey. “Just go with the flow,” she added. Buch, however, suggested students probe the nature of their mantra if they face a dilemma about the direction they are taking and whether their mantra is a match for the goals that they are aiming for.
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“In today’s multi-dimensional and multi-varied world, there is an infinite set of combinations of which mantra can help you achieve which goal. You just need to make sure that you find a fit at a point in time,” she said.
Buch said her generation was very fortunate to participate in the dawn of the new India. “Your generation, in my view, is keen more fortunate. You are on your way to seeing the high noon of the new India,” she added.
(With inputs from PTI)
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Published: 31 Mar 2024, 12:36 PM IST