SEBI
The regulator of India's stock markets, set up in 1988 and later given statutory powers by its own Act.
What the paper can ask
- Set up as a non-statutory body on 12 April 1988 by a Government of India resolution.
- Preamble: to protect the interests of investors in securities and to promote the development of, and regulate, the securities market.
- In March 2026 's board brought its own chairman and whole-time members under the definition of 'insider' and tightened conflict-of-interest rules. (as of 23 Oct 2026)
Why exams ask
The year it got statutory status and its three preamble functions are the standard questions.
The full story
The Securities and Exchange Board of India (SEBI) regulates the securities market: stock exchanges, brokers, mutual funds, listed companies and investor protection. It was first set up on 12 April 1988 as a non-statutory body by a government resolution and later got statutory powers through its own Act. Its preamble gives three jobs: protect investors, promote the development of the securities market and regulate it.
In the news
Test yourself
1.SEBI, set up in 1988 as a non-statutory body, received statutory powers through the SEBI Act of which year?
Correct. SEBI was given statutory status under the SEBI Act, 1992 (effective 30 January 1992).
Not quite. SEBI was given statutory status under the SEBI Act, 1992 (effective 30 January 1992). It goes into your error book.