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Securities and Exchange Board of India (SEBI)

PYQs

9

Articles

2

Momentum

25

Phase IFoundation

Background

Overview

SEBI's role is paramount for the stability, integrity, and efficiency of India's capital markets, directly impacting investor confidence, corporate governance, and the overall economic environment.

SEBI is the statutory regulatory body for the securities market in India, established in 1988 and given statutory powers in 1992 through the SEBI Act, 1992. Its primary objectives include protecting the interests of investors in securities, promoting the development of the securities market, and regulating the securities market.

Phase IIStatic core

Facts & tables

Key facts

Establishment

1988 (statutory powers 1992 via SEBI Act)

Nature

Statutory body

Core Mandate

Investor protection, market development, regulation of securities market

Jurisdiction

Stock exchanges, mutual funds, merchant bankers, etc.

Statutory Body

Established in 1988 and given statutory powers in 1992 through the SEBI Act, 1992.

Regulatory Mandate

Regulates stock exchanges, intermediaries, and market participants to ensure fair and transparent practices.

Investor Protection

A primary objective is to safeguard the rights and interests of investors through various regulations and enforcement actions.

Conflict of Interest

Actively addresses potential conflicts of interest, such as prohibiting stock exchanges from self-listing, to maintain market integrity.

Reference table

Static syllabus anchors

TypeReference
Conceptual areaConstitutional & Statutory Bodies
Conceptual areaIndian Economy
Conceptual areaFinancial Markets & Instruments

Reference table

Institutions & roles

BodyRole
Securities and Exchange Board of IndiaRegulates
National Stock Exchange (NSE)Regulated entity
Bombay Stock Exchange (BSE)Regulated entity
Phase IIIExam lens

Prelims angle

Overview

Prelims angle: Multi-statement analysis

Prelims angle: Institutional roles and functions

Quick revision

  • Statutory body, established 1992 (SEBI Act).
  • Regulates securities market (stocks, bonds, mutual funds).
  • Protects investor interests.
  • Promotes market development.
  • Oversees Asset Management Companies (AMCs).

Elimination traps

Constitutional vs statutory — SEBI is a statutory body, not a constitutional one.

Check if created by Constitution or by Parliament.

High-confidence PYQs

2026Multi-statement analysis, Factual recall

With reference to different Committees in India, consider the following details : | Sl. No. | Committee | Objective | Organization under which it was formed...

EconomyOpen question
2025Multi-statement analysis, Conceptual understanding

Consider the following statements: I. India accounts for a very large portion of all equity option contracts traded globally thus exhibiting a great boom. I...

EconomyOpen question

With reference to investments, consider the following: I. Bonds II. Hedge Funds III. Stocks IV. Venture Capital How many of the above are treated as Altern...

EconomyOpen question
2025Multi-statement analysis, Institutional roles and functions

Consider the following statements: I. India accounts for a very large portion of all equity option contracts traded globally thus exhibiting a great boom. I...

EconomyOpen question

With reference to investments, consider the following: I. Bonds II. Hedge Funds III. Stocks IV. Venture Capital How many of the above are treated as Altern...

EconomyOpen question
2024Definition-based questions, Conceptual understanding

In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select...

EconomyOpen question

Consider the following statements: 1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of I...

EconomyOpen question

Consider the following: 1. Exchange-Traded Funds (ETF) 2. Motor vehicles 3. Currency swap Which of the above is/are considered financial instruments?

EconomyOpen question
2024Multi-statement analysis, Factual recall

In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select...

EconomyOpen question

Consider the following statements: 1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of I...

EconomyOpen question

Consider the following: 1. Exchange-Traded Funds (ETF) 2. Motor vehicles 3. Currency swap Which of the above is/are considered financial instruments?

EconomyOpen question
2024Factual recall, Multi-statement analysis

In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select...

EconomyOpen question

Consider the following statements: 1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of I...

EconomyOpen question

Consider the following: 1. Exchange-Traded Funds (ETF) 2. Motor vehicles 3. Currency swap Which of the above is/are considered financial instruments?

EconomyOpen question
2023Multi-statement analysis, Factual recall

Consider the following statements: Statement-I: Interest income from the deposits in Infrastructure Investment Trusts (InvITs) distributed to their investor...

EconomyOpen question
2022Statement-based questions, Conceptual understanding

With reference to Convertible Bonds consider the following statements: 1. As there is an option to exchange the bond for equity, Convertible Bonds pay a low...

EconomyOpen question
2021Multi-statement analysis, Institutional roles and functions

With reference to India, consider the following statements: 1. Retail investors through demat account can invest in ‘Treasury Bills’ and ‘Government of India...

EconomyOpen question

Topic timeline

Constitutional & Statutory BodiesIndian EconomyFinancial Markets & Instruments
Prelims 2021· Multi-statement analysis, Institutional roles and functions

With reference to India, consider the following statements: 1. Retail investors through demat account can invest in ‘Treasury Bills’ and ‘Government of India...

Open question
Prelims 2022· Statement-based questions, Conceptual understanding

With reference to Convertible Bonds consider the following statements: 1. As there is an option to exchange the bond for equity, Convertible Bonds pay a low...

Open question
Prelims 2023· Multi-statement analysis, Factual recall

Consider the following statements: Statement-I: Interest income from the deposits in Infrastructure Investment Trusts (InvITs) distributed to their investor...

Open question
Prelims 2024· Definition-based questions, Conceptual understanding

In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select...

Open question

Consider the following statements: 1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of I...

Open question

Consider the following: 1. Exchange-Traded Funds (ETF) 2. Motor vehicles 3. Currency swap Which of the above is/are considered financial instruments?

Open question
Prelims 2024· Multi-statement analysis, Factual recall

In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select...

Open question

Consider the following statements: 1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of I...

Open question

Consider the following: 1. Exchange-Traded Funds (ETF) 2. Motor vehicles 3. Currency swap Which of the above is/are considered financial instruments?

Open question
Prelims 2024· Factual recall, Multi-statement analysis

In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select...

Open question

Consider the following statements: 1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of I...

Open question

Consider the following: 1. Exchange-Traded Funds (ETF) 2. Motor vehicles 3. Currency swap Which of the above is/are considered financial instruments?

Open question
Prelims 2025· Multi-statement analysis, Conceptual understanding

Consider the following statements: I. India accounts for a very large portion of all equity option contracts traded globally thus exhibiting a great boom. I...

Open question

With reference to investments, consider the following: I. Bonds II. Hedge Funds III. Stocks IV. Venture Capital How many of the above are treated as Altern...

Open question
Prelims 2025· Multi-statement analysis, Institutional roles and functions

Consider the following statements: I. India accounts for a very large portion of all equity option contracts traded globally thus exhibiting a great boom. I...

Open question

With reference to investments, consider the following: I. Bonds II. Hedge Funds III. Stocks IV. Venture Capital How many of the above are treated as Altern...

Open question
Prelims 2026· Multi-statement analysis, Factual recall

With reference to different Committees in India, consider the following details : | Sl. No. | Committee | Objective | Organization under which it was formed...

Open question

SEBI proposes to limit salary disclosure of AMC top employees

11 Jun 2026 · SEBI is India's statutory capital market regulator, established in 1992, focused on investor protection, market development, and regulating market intermediaries like Asset Management Companies (AMCs).

Read article

NSE IPO: The buzz around India’s biggest public issue and why timing is important

06 Sep 2026 · SEBI is India's statutory capital market regulator, protecting investors, promoting market development, and ensuring fair practices by addressing issues like conflict of interest in stock exchanges.

Read article

Related topics

Current topic

Securities and Exchange Board of India (SEBI)

Often confused with

Initial Public Offering (IPO)

Open notesOften confused with

Minimum Public Shareholding (MPS) Norms

Open notes

Practice writing on this topic

UPSC has asked 9 linked questions on Securities and Exchange Board of India (SEBI) in Mains. Write an answer to one — and get it evaluated.

See Mains PYQsEvaluate an answer

UPSC Prelims PYQs on Securities and Exchange Board of India (SEBI)

Practice official previous year questions asked by UPSC related to this concept.

In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select...

2024·Economy
Solve

Consider the following statements: I. India accounts for a very large portion of all equity option contracts traded globally thus exhibiting a great boom. I...

2025·Economy
Solve

With reference to investments, consider the following: I. Bonds II. Hedge Funds III. Stocks IV. Venture Capital How many of the above are treated as Altern...

2025·Economy
Solve

With reference to different Committees in India, consider the following details : | Sl. No. | Committee | Objective | Organization under which it was formed...

2026·Economy
Solve

With reference to India, consider the following statements: 1. Retail investors through demat account can invest in ‘Treasury Bills’ and ‘Government of India...

2021·Economy
Solve

Consider the following statements: Statement-I: Interest income from the deposits in Infrastructure Investment Trusts (InvITs) distributed to their investor...

2023·Economy
Solve

Consider the following statements: 1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of I...

2024·Economy
Solve

With reference to Convertible Bonds consider the following statements: 1. As there is an option to exchange the bond for equity, Convertible Bonds pay a low...

2022·Economy
Solve

Consider the following: 1. Exchange-Traded Funds (ETF) 2. Motor vehicles 3. Currency swap Which of the above is/are considered financial instruments?

2024·Economy
Solve

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