Read the following passage and answer the question.

Deepti's grandfather was unwell. He called Deepti and gave her a box containing cash and certain papers which were crumbled. He saw them carefully and found that these were share certificates. Deepti now wants to know the process through which she can trade in these shares. She also learnt about the trading procedure and got to know about SEBI as well. She told her friend Rekha, "SEBI regularly inspects the various elements of trading and also conducts the broker's enquiries. SEBI also promotes fair trade practices for investor protection. It also controls insider trading and impose penalties in case of such malpractices." She also told her friend about many instruments such as commercial papers or bills which are not traded on stock exchanges.

What is the full form of SEBI?

Securities and Exchange Board of India

The correct answer is option 2- Securities and Exchange Board of India.

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.