Capital Market Reforms were undertaken during the 1990s encompassing legislative
regulatory and institutional reforms and the liberalization policy of India 1991, introduce the
need of financial reform. Securities and Exchange Board of India (SEBI) was established in
1988 to regulate the security market. It has constituted various committees from time to time
to efficiently manage the working and development of securities market. Various departments
and regional offices manage the affairs of SEBI. The head Office of SEBI is situated at
Mumbai. The current Chairman of SEBI is Mr. Ajay Tyagi. Statutory market regulator,
which was created in 1992, was suitably empowered to regulate the collective investment
schemes and plantation schemes through an amendment in 1999. Further, the power of SEBI
have been empowered with compliance and enforcement powers including search and seizure
powers through an amendment in SEBI Act in 2002 .SEBI Function is to protect the interests
of investors in securities market , promote the development of securities market ,regulate the
business in stock exchanges and any other securities markets to promote investors education
and training of intermediaries of securities markets, prohibit insider trading in securities
regulate substantial acquisition of shares and takeover of companies , register and regulate the
working of stock brokers , sub-brokers, share transfer agents, bankers to an issue, trustees of
trust deeds, registrars to an issue, merchant bankers, underwriters, portfolio managers,
investment advisers and intermediaries associated with securities markets ,register and
regulate the working of the depositories, participants, custodians of securities, foreign
institutional investors, credit rating agencies , register and regulate the working of venture
capital funds and collective investment schemes including mutual funds , promote and
regulate self-regulatory organizations .
Real Time Impact Factor:
Pending
Author Name: Dr Suhasini Parashar
URL: View PDF
Keywords: Capital, Institutional Reform, Risk, Securities.
ISSN: 2454-468X
EISSN: 2231-6868
EOI/DOI:
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