SEBI is an interim administrative body to promote orderly and healthy growth of securities market. Find out the correct statements about SEBI.

A. SEBI was established on 12 April 1988 as an administrative body to promote orderly growth of stock market.
B. The act of Parliament that governs SEBI is SEBI Act, 1994.
C. The basic purpose of SEBI is to form new enterprises.
D. SEBI doesn't protect the rights and interest of investors.
E. SEBI is a separate regulatory body
Choose the correct answer from the option given below:

A and E only

The Securities and Exchange Board of India was established by the Government of India on 12 April 1988 as an interim administrative body to promote orderly and healthy growth of securities market and for investor protection. It was to function under the overall administrative control of the Ministry of Finance of the Government of India. The SEBI was given a statutory status on 30 January 1992 through an ordinance. The ordinance was later replaced by an Act of Parliament known as the Securities and Exchange Board of India Act, 1992. The basic purpose of SEBI is to create an environment to facilitate efficient mobilisation and allocation of resources through the securities markets. It also aims to stimulate competition and encourage innovation. This environment includes rules and regulations, institutions and their interrelationships, instruments, practices, infrastructure and policy framework. The overall objective of SEBI is to protect the interests of investors and to promote the development of, and regulate the securities market.