Identify for the following under whose overall administrative control, SEBI functions:
Answer & explanation
Correct answer: option 3
The correct answer is option 3- Ministry of Finance, GOI.
SEBI functions under the Ministry of Finance, GOI overall administrative control.
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.