Securities and Exchanges Board Of India (SEBI) is one of the most significant regulatory body responsible for managing the securities market in India. SEBI was set up with the intent of preserving the interest of investors who invest in the securities market and to encourage the development and growth of the securities market.
At the same time, the board has to regulate and ensure that all market participants duly comply with the set norms. SEBI is given the power to impose penalties on those market participants that are not complying with the rules and regulations.
Origin of SEBI
The Securities and Exchange Board of India (SEBI) was constituted as a non-statutory regulatory back in 1988. However, it was given autonomy as a statutory body only on 30 January 1993 when the Indian Parliament passed the Securities and Exchange Board of India (SEBI). The SEBI replaced the Controller of Capital Issues.
The Controller of Capital Issues was in charge of handling the securities market in India until the time the SEBI was constituted. It was being governed by the Capital Issues (Control) Act, 1947. This was one of the initial acts passed by the independent Indian Parliament.
The headquarters of Securities and Exchange Board of India is in the heart of Mumbai (Bandra Kurla), the finance capital of India. The SEBI also has its branch offices located in Ahmedabad, Chennai, Kolkata, New Delhi to serve western, southern, eastern, and northern regions of the country respectively.
Apart from that, the SEBI has set up small local branch offices at Bengaluru, Bhubaneshwar, Chandigarh, Guwahati, Kochi, Patna, and Jaipur.