WBCS.LIVE practice question

In which year did the Securities and Exchange Board of India (SEBI) receive statutory status?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 1988
  2. 1990
  3. 1992
  4. 1995

Correct answer and explanation

Correct answer: 1992

Explanation: āœ… Correct Answer: C) 1992 šŸ“š Explanation: SEBI was initially established as a non-statutory body in 1988 to regulate the securities market. However, it was given statutory powers through the SEBI Act, 1992, following various financial irregularities in the market. This empowered SEBI to act as an independent regulator with the authority to penalize violations and protect investor interests.