SEBI stands for securities and exchange board of India. It was set up through a government resolution in an effort to give the Indian stock market an organised structure. Its initial paid up capital up was Rs. 50 Crore.
Main functions and powers of the SEBI are as follows:
- Registering and stock exchanges, merchant banks, mutual funds, underwriters, registrars to the issues, broker, sub broker, transfer agents and others.
- Levying various fees and other charges
- Promoting investor education
- Inspection and audit of stock exchanges and various intermediaries
- Performing other functions as may be prescribed from time to time.