The Securities and Exchange Board of India (SEBI) was established in 1992 by the Government of India through the Securities and Exchange Board of India Act, 1992. The Act was enacted to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market in India.
SEBI is a statutory body with a quasi-judicial character. It is headed by a Chairman and has a Board of Directors consisting of a whole-time member, two part-time members and two government nominees. The Board is responsible for the overall policy and administration of SEBI.
SEBI has the following functions:
- To protect the interests of investors in securities.
- To promote the development of, and to regulate, the securities market in India.
- To regulate the activities of stock exchanges and other intermediaries in the securities market.
- To investigate and take action against market manipulation and insider trading.
- To promote investor education and awareness.
- To regulate the issue and listing of securities.
- To regulate the takeovers and mergers of companies.
- To regulate the activities of foreign institutional investors.
SEBI has been instrumental in the development of the Indian securities market. It has taken a number of measures to protect the interests of investors, promote the development of the market and regulate the activities of intermediaries. SEBI has also been active in promoting investor education and awareness.
SEBI has been successful in its mission to protect the interests of investors and promote the development of the Indian securities market. The market has grown significantly in recent years and is now one of the largest in the world. SEBI has played a key role in this growth.
The correct answer is: A. 1992