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Securities and Exchange Board of India (SEBI) was set up in 1988 to regulate the function of the securities markets with a view to promoting their orderly and healthy development, to provide adequate protection to investors and to thus create an environment to facilitate mobilization of adequate resources through the securities market.

Bombay Stock Exchange

Then it was subsequently upgraded as a fully autonomous body (a statutory Board) in the year 1992 with the passing of the Securities and Exchange Board of India Act (SEBI Act) on 30th January 1992.

In place of Government Control, a statutory and autonomous regulatory board with defined responsibilities, to cover both development & regulation of the market, and independent powers has been set up.

Paradoxically this is a positive outcome of the Securities Scam of 1990-91.

National Stock Exchange

The basic objectives of the Board were identified as:-

• To protect the interests of investors in securities;

• To promote the development of Securities Market;

• To regulate the securities market and

• For matters connected therewith or incidental thereto.

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