economics easy Fill in the Blank

The Securities and Exchange Board of India (SEBI), which regulates the mutual fund industry and protects investor interests in the capital markets, was given statutory powers through an Act of Parliament in the year ___.

  1. Veblen
  2. C2 (or Comprehensive)
  3. base
  4. 1992

Answer: 1992

SEBI was initially set up in 1988 as a non-statutory executive body with no real enforcement teeth to curb rampant market manipulation and insider trading. It was only after the massive Harshad Mehta stock market scam that the government rushed through the SEBI Act in 1992, granting it sweeping statutory powers to penalize offenders, regulate stock exchanges, and enforce strict disclosure norms.

Topic Indian Economy - Institutions
Exam Relevance SSC, Railway, Banking
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