SEBI has three types of functions including protective functions __________ functions and Development functions.

Regulatory

The correct answer is option (3) : Regulatory

SEBI

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.

SEBI has three types of functions including protective functions, regulatory functions and development functions.