A Study on Influence of SEBI on Stock Market
The Securities and Exchange Board of India (SEBI) is the regulatory body for dealing with all matters related to the development and regulation of securities market in India. SEBI was established on 12th of April in 1988. SEBI was given statutory powers on 12 April 1992 through the SEBI Act, 1992. SEBI is managed by six members-one chairman (nominated by Central Government), two members (officers of central ministries), one member (from RBI) and remaining two members are nominated by Central Government. The office of SEBI is situated at Mumbai with its regional offices at Kolkata, Delhi and Chennai. In 1988 the initial capital of SEBI was ~ 7·5 crore which was provided by its promoters (IDBI, ICICI, IFCI). This amount was invested and with its interest amount day-to-day expenses of SEBI are met. All statutory powers for regulating Indian capital market are vested with SEBI itself.