Description

RTI appellate order regarding queries on NPS implementation date, board approval minutes, and GoI compliance circular at SEBI. Partial relief granted on query no. 1 for non-enclosure of circular.

Summary

The Appellate Authority under the RTI Act, 2005 has issued an order in Appeal No. 6824 of 2026, filed by Abhi N against the CPIO, SEBI, Mumbai. The appeal concerned three queries relating to the implementation of the National Pension System (NPS) at SEBI, including the date of implementation, board meeting minutes approving NPS, and SEBI’s compliance with a Government of India Office Memorandum dated March 3, 2023.

Key Points

  • Appellant filed original RTI application on March 12, 2026; SEBI responded on April 6, 2026
  • Three queries were raised: (1) NPS implementation date and circular, (2) SEBI Board approval minutes for NPS, (3) SEBI circular complying with GoI OM No. 57/05/2021 dated March 3, 2023
  • SEBI informed NPS was implemented w.e.f. December 7, 2016; Board had approved NPS for permanent staff on May 19, 2016
  • Query no. 1 found inadequately addressed as the office circular dated December 7, 2016 was not enclosed with the response
  • Query no. 2 dismissed — board meeting minutes held exempt under Section 8(1)(a) of RTI Act as pertaining to internal functioning
  • Query no. 3 dismissed as vague and not specific under Section 2(f) of the RTI Act

Regulatory Changes

No regulatory changes. This is an administrative RTI appellate order with no amendments to SEBI regulations or market-facing rules.

Compliance Requirements

  • SEBI’s CPIO is directed to provide the office circular dated December 7, 2016 regarding NPS implementation, as it was not enclosed in the original response
  • No compliance obligations for market participants or regulated entities

Important Dates

  • March 12, 2026: Original RTI application filed by appellant
  • April 6, 2026: SEBI respondent’s reply; appellant’s appeal filed (Reg. No. SEBIH/A/E/26/00125)
  • May 19, 2016: SEBI Board approval for NPS for permanent staff
  • December 7, 2016: NPS implementation date at SEBI

Impact Assessment

This order has no impact on market participants, traders, or listed entities. It is a routine administrative RTI appellate proceeding concerning SEBI’s internal HR/pension arrangements. The partial direction to furnish a missing enclosure (NPS circular of December 2016) is limited to the appellant’s information request and carries no broader regulatory significance.

Impact Justification

Administrative RTI appeal with no direct market or trading implications. Concerns internal SEBI HR/pension matters with no regulatory changes affecting market participants.