Question

The Securities and Exchange Board of India was established by the Government of India and was  given a statutory status in ______.

Options

• 1988

• 1992

• 1996

• 1998

Answer 1

1992

Explanation -

On April 12, 1988, the Government of India established the Securities and Exchange Board of India as an interim administrative body to promote orderly and healthy expansion of the securities market and to protect investors. It was to report to the Indian government's Ministry of Finance for general administrative oversight. The SEBI was given statutory status on January 30, 1992, when an ordinance was passed.