A fund manager friend of mine once showed me two ESG rating reports on the same Indian cement company, from two different global rating agencies. One had the company near the top of its sector. The other had it near the bottom. Same company. Same quarter. Same publicly available data. "Which one do I trust?" he asked. "Neither, fully," I said. "But that's the job, isn't it?" This is the strange world ESG ratings live in. They carry huge influence — investors use them to alloc

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