Q.What is SEBI?

SEBI is the statutory body that regulates India's securities market, and a short answer should mention when it was set up and what it was given statutory power under. …

SEBI, the Securities and Exchange Board of India, is the apex regulatory body governing the securities market in India. It was first constituted in 1988 as a non-statutory body by a resolution of the Government of India, in response to widespread malpractices in the primary market that the earlier Controller of Capital Issues system had failed to control. In 1992, Parliament enacted the SEBI Act, 1992, giving SEBI full statutory powers to regulate stock exchanges, intermediaries and listed companies. …

Students frequently write only the full form of SEBI without stating that it became a statutory body in 1992 — the year and the Act n …