The Securities and Exchange Board of India (Sebi) is planning a collaborative initiative to enhance the framework for independent directors, aiming to improve corporate governance across India. Sebi chairman Tuhin Kanta Pandey announced this initiative at the 19th Governance Summit hosted by the Confederation of Indian Industries (CII). He emphasized that while boards may be well-constituted, their effectiveness often falls short, with independent perspectives not always translating into actionable insights. The push for this initiative comes in light of recent boardroom tensions at HDFC Bank, where the resignation of Atanu Chakraborty as non-executive chairman raised questions about governance practices. Chakraborty's departure highlighted the challenges independent directors face in expressing dissent within corporate boards. Pandey stated that the goal of the initiative is to foster depth and effectiveness in governance rather than mere compliance. The framework will involve collaboration among regulators, industry bodies, and academic institutions to build the capacity of independent directors, encouraging a more proactive approach to governance.