Key Points
Key Points: Securities and Exchange Board of India (SEBI)
- SEBI was established in 1988 and became a statutory body in 1992 under the SEBI Act, 1992.
- SEBI regulates, supervises and promotes the securities market while protecting investors' interests.
- The main objectives of SEBI are regulation, investor protection, prevention of malpractices and enforcement of a code of conduct.
- SEBI performs three major functions: Protective, Developmental and Regulatory.
- The major intermediaries regulated by SEBI are stock exchanges, stock brokers, merchant bankers, depositories, credit rating agencies and mutual funds.
- The two major depositories in India are NSDL and CDSL, while the major stock exchanges are BSE and NSE.
- The leading credit rating agencies are CRISIL and ICRA, and the oldest mutual fund in India is UTI.
