Q.Describe the organisation structure (composition of the Board) of SEBI.

SEBI's governing Board is deliberately composed of members from different government wings so its regulation stays coordinated with national economic policy.

Under Section 4 of the SEBI Act, 1992, the SEBI Board consists of:

• One Chairman, appointed by the Central Government.
• Two members, from among officials of the Ministry of the Central Government dealing with Finance and the Companies Act.
• One member, from among officials of the Reserve Bank of India.
• Five other members, of whom at least three must be whole-time members, appointed by the Central Government.

Every member, including the Chairman, is appointed by the Central Government, which keeps SEBI answerable to the Government even while it functions with day-to-day autonomy. The presence of RBI and Finance Ministry nominees ensures SEBI's securities-market regulation stays aligned with the country's wider monetary and fiscal policy.

Forgetting that at least three of the five "other members" must specifically be whole-time members — a detail examiners look for.