Which of the following regulates the financial markets of India?

Reserve Bank of India

The Reserve Bank regulates financial markets within the overarching statutory framework of the Reserve Bank of India Act, 1934. Whereas, The Securities and Exchange Board of India (SEBI) is the regulatory authority established under the SEBI Act 1992 and is the principal regulator for Stock Exchanges in India. SEBI's primary functions include protecting investor interests, promoting and regulating the Indian securities markets.