CSEET · Economic and Business Environment · Key Government Institutions
Which of the following best describes the statutory status of the Securities and Exchange Board of India (SEBI) at present?
SEBI is a statutory body established under the SEBI Act, 1992. It gets its powers from an Act of Parliament, not from the Constitution, and it is an independent regulator rather than a ministry department or an advisory committee of the RBI.
- AA statutory body established under the SEBI Act, 1992Correct
- BA constitutional body established under an Article of the Constitution
- CA department within the Ministry of Corporate Affairs
- DA non-statutory advisory committee of the Reserve Bank of India
Explanation
SEBI was given statutory powers by the Securities and Exchange Board of India Act, 1992. It is not created by the Constitution, and it is not a department of a ministry or an RBI committee. Calling it constitutional is the key mistake in the distractors.
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