India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has introduced temporary austerity measures for employees following Prime Minister Narendra Modi’s broader appeal for restraint and energy conservation amid the evolving geopolitical situation. Under the new advisory, SEBI has permitted a section of its workforce to work from home once a week while also directing departments to postpone conclaves, avoid unnecessary travel and prioritise virtual meetings wherever possible.
According to a Business Standard report, the administrative circular, issued on May 21, comes as authorities across sectors step up efforts to reduce energy consumption and operational costs in view of global uncertainties linked to rising geopolitical tensions.
As part of the temporary arrangement, officers in Grades A to C will be allowed to work remotely one day every week on a rotational basis for eight weeks beginning May 25. However, the flexibility will not apply to senior officials and certain support staff categories, the report added.
“All officers in Grade ‘D’ and above, all employees posted in offices of Chairman/WTMs and all employees in Secretarial Cadre (i.e. Secretaries, Account Assistants and Junior Assistants) shall attend office regularly,” the advisory noted.
To ensure smooth functioning, SEBI has instructed regional directors and department heads to prepare rosters in such a way that at least 50 per cent of officers in Grades A to C remain physically present in office at all times.
The market regulator later confirmed to Business Standard that the advisory had officially been circulated among employees.
Apart from work-from-home provisions, SEBI has also asked departments to defer conclaves, brainstorming sessions and similar programmes for the next eight weeks.
Departments have additionally been instructed not to schedule fresh conclaves during this period. However, events where prior bookings have already been made and cancellation penalties may apply will continue as planned.
The regulator has also encouraged officials to reduce fuel consumption and adopt alternative commuting methods.
“Employees are encouraged to make use of public transport, subsidised bus facility, carpooling, electric vehicles and avoid using private vehicles to the extent possible,” the advisory said.
Officials have been further advised to conduct stakeholder meetings virtually whenever feasible as part of the energy-saving exercise.
SEBI Issues SOP For Remote Working
To support the temporary hybrid arrangement, SEBI has circulated a standard operating procedure (SOP) for employees working remotely, as per the report. Under the SOP, department heads have been given the authority to define work targets, reporting timelines and productivity expectations for employees operating from home.
Employees have also been reminded to maintain strict vigilance regarding data privacy, cybersecurity and confidentiality while accessing official systems remotely. The current measures are expected to remain in force for eight weeks, after which Sebi may review the arrangement depending on the prevailing situation, added the report.
