What is SEBI? (सेबी क्या है?)

The Securities and Exchange Board of India (SEBI) is the regulatory authority established by the Government of India to oversee and regulate the share market or securities market in the country. Founded in 1988 and given statutory powers in 1992 under the SEBI Act, SEBI plays a crucial role in ensuring transparency, efficiency, and investor protection in the Indian financial market.

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Introduction to SEBI (सेबी का परिचय)

SEBI, known in Hindi as भारतीय प्रतिभूति और विनिमय बोर्ड, was established to address malpractices in the securities market and to instill confidence among investors. It acts as the watchdog of the securities market, ensuring that all participants, including companies, stock exchanges, and investors, follow established rules and regulations.

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Objectives of Securities and Exchange Board of India (SEBI) (सेबी के उद्देश्य)

SEBI’s primary objectives can be categorized into three main areas:

1. Protection of Investors (निवेशकों की सुरक्षा):
   SEBI safeguards the interests of investors by ensuring that they are not misled or exploited in the securities market.
2. Regulation of the Market (बाजार का विनियमन):
   It regulates and monitors the functioning of stock exchanges, brokers, and other intermediaries.
3. Development of the Market (बाजार का विकास):
   SEBI promotes the development of the securities market by introducing innovative financial products and systems.

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Functions of Securities and Exchange Board of India (SEBI) (सेबी के कार्य)

SEBI performs various critical functions to ensure the smooth functioning of the securities market:

1. Regulatory Functions (नियामक कार्य):
   • Regulates stock exchanges and other intermediaries.
   • Enforces rules to prevent unfair trade practices.
   • Registers and regulates mutual funds, portfolio managers, and venture capital funds.
2. Developmental Functions (विकासात्मक कार्य):
   • Educates investors about market practices.
   • Promotes training for market participants.
   • Encourages research and innovation in financial markets.
3. Protective Functions (सुरक्षात्मक कार्य):
   • Prohibits insider trading and fraudulent activities.
   • Imposes penalties on violators.
   • Ensures timely and accurate disclosure of information by companies.

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Structure of Securities and Exchange Board of India (SEBI) (सेबी की संरचना)

SEBI operates as an independent body with a well-defined structure:

• Chairman (अध्यक्ष): Appointed by the Government of India.
• Members (सदस्य): Comprising representatives from the Ministry of Finance, Reserve Bank of India, and other experts in securities and finance.

SEBI has its headquarters in Mumbai, with regional offices in New Delhi, Kolkata, Chennai, and Ahmedabad.

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Importance of Securities and Exchange Board of India (SEBI) (सेबी का महत्व)

SEBI plays a pivotal role in maintaining the integrity of the Indian securities market:

• Investor Confidence: By regulating the market, SEBI ensures that investors feel secure.
• Market Transparency: SEBI enforces rules that promote transparency in trading and disclosure.
• Economic Growth: A well-regulated securities market contributes to the overall economic development of the country.

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Powers of Securities and Exchange Board of India (SEBI) (सेबी के अधिकार)

Under the SEBI Act of 1992, SEBI has been granted extensive powers to regulate the market:

• Judicial Powers: SEBI can conduct investigations and impose penalties.
• Legislative Powers: SEBI drafts regulations and guidelines for market participants.
• Executive Powers: SEBI implements policies and ensures compliance.

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SEBI’s Role in Investor Protection (सेबी की निवेशक सुरक्षा में भूमिका)

To protect investors, SEBI has introduced several measures:

• Mandatory disclosure of financial information by listed companies.
• Strict penalties for insider trading and market manipulation.
• Setting up investor grievance redressal mechanisms.

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Conclusion (निष्कर्ष)

Securities and Exchange Board of India (SEBI) is the backbone of the Indian securities market, ensuring its stability, transparency, and growth. By regulating market participants, protecting investors, and fostering innovation, SEBI has established itself as a trusted authority. Understanding SEBI’s role is crucial for anyone involved in the Indian financial market, from novice investors to seasoned traders.