BANKING AFFAIRS

Detailed explanation-1: -The Securities and Exchange Board of India was constituted as a non-statutory body on April 12, 1988 through a resolution of the Government of India.

Detailed explanation-2: -The Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.

Detailed explanation-3: -Securities and Exchange Board of India (SEBI) was first established in 1988 as a non-statutory body for regulating the securities market. It became an autonomous body on 30 January 1992 and was accorded statutory powers with the passing of the SEBI Act 1992 by the Indian Parliament.

Detailed explanation-4: -The Ordinance was replaced by an Act of Parliament on April 4, 1992. The preamble of the SEBI Act, 1992 enshrines the objectives of SEBI – to protect the interest of investors in securities market and to promote the development of and to regulate the securities market.

Detailed explanation-5: -An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto.