Question

Consider the following statements about the Indian capital market:
$1.$ The Security Exchange Board of Indian (SEBI) was set-up in the Seventh Five Year Plan.
$2.$ The Capital Issue (Control) Act $-1947$ was repealed and replaced by the SEBI.
Which of the statements given above is/are correct?

• A. Only $1$
• B. Only $2$
• C. Both $1$ and $2$
• D. Neither $1$ nor $2$

Answer 1

The correct option is C Both $1$ and $2$

Securities and exchange Board of India (SEBI) was first established in the year 1988 as a non-statutory body for regulating the, securities market. It became an autonomous body by the Government of India on 12 April 1992 and was given statutory powers in 1992 with SEBI Act 1992 being passed by the Indian Parliament. Controller of Capital Issues was the regulatory authority before SEBI came into existence; it derived authority from the Capital Issues (Control) Act, 1947. It was repealed and replaced by SEBI. The 7th five year plan was between the years 1985 to 1990.