SEBI Governance Reforms: Why Market Infrastructure Governance Is Becoming Critical Governance reforms by Securities and Exchange Board of India are not only about stricter regulation. They show how important market infrastructure stability has become for modern capital markets. Market infrastructure organisations are not normal business companies. They work as the operational foundation of financial trading, settlement processing and accurate ownership recording inside the ec

1. Introduction – Governance Challenge in the Digital Age Corporate governance is entering a new phase as business leadership itself is transforming quietly but deeply. For many decades, board responsibility was mainly associated with financial accuracy, compliance supervision and strategic approval of organisational direction. Technology was usually treated as a supporting operational function managed by internal teams, external service providers, or specialised technical de

For a long time, investors believed the numbers told the whole story. Revenue, margins, earnings per share — that was enough. But financial statements don’t produce themselves. People produce them. And people operate within a culture. The “Social” in ESG is not about charity or branding. It is about human capital, incentives, leadership tone, and workplace norms. It is about whether employees feel safe reporting issues, whether finance teams are pressured to “make the numbers

Sustainable investing didn’t creep into finance. It arrived quickly and with confidence. Within a few years, ESG funds were everywhere across Europe. Asset managers updated their brochures. Sustainability teams grew. Climate language moved from the margins of annual reports to the front page of marketing decks. At first, most people welcomed it. More transparency. More responsibility. More long-term thinking. But then the awkward questions started to surface. Investors began

If you speak to directors privately, not during the official meeting but afterwards, over coffee or in the corridor, you’ll hear something interesting. It’s not panic. It’s not even fear. It’s uncertainty. Not the usual kind. Not the “markets are volatile” kind. Boards have handled that for decades. This is different. The uncertainty now is about understanding what exactly they are responsible for in a world that keeps rewriting the rules. The key issues for boards in 2026 ar

Over the last twenty years, activist investors have become a regular feature of corporate life. It’s no longer unusual to see a hedge fund take a stake in a company, push for change, and eventually secure a seat on the board. In many markets, this has become part of the normal rhythm of governance rather than an exceptional event. When activist directors enter a boardroom, markets often react quickly. Share prices frequently rise around the announcement of an activist campaig

The future of shareholder voting  in 2026 is defined by one clear shift: investor engagement is becoming more active, more digital, and more continuous. What used to be a once-a-year voting ritual is now an ongoing conversation between companies and their shareholders. Boards are being questioned more closely. Institutional investors are building in-house voting systems. Retail investors are participating through digital platforms. And technology — especially AI — is changing

For Many Years, Governance in India Meant Regulatory Compliance For several decades, corporate governance in India was mainly viewed as a legal duty. When disclosures were submitted, board committees formed and independent directors appointed according to law, organisations were considered properly governed. Governance was equal to following rules — Companies Act provisions, listing norms and formal procedures. That period was important. It introduced structure, accountabilit

Introduction: When Governance Breaks, Outside Supervision Begins In many corporate scandals, there comes a stage where authorities feel that internal correction is not enough anymore. At that point, an external corporate monitor is appointed. When internal control systems collapse, outside supervision enters. Corporate monitorships are often seen as punishment or legal penalty. But actually, they function as governance reform mechanisms. An independent monitor is selected to