Markets need someone to enforce the rules and protect participants who know less than others. In India that job belongs to the Securities and Exchange Board of India, known as SEBI.
SEBI is the regulator for India's securities market — the market for shares, bonds, mutual funds and similar instruments. It is a statutory body, meaning its powers come from law, not from the exchanges themselves.
What SEBI does
- Protects investors — for example, by requiring clear disclosure from companies.
- Regulates intermediaries — brokers, exchanges, depositories and others must meet standards and be registered.
- Sets conduct rules — including prohibitions on insider trading and market manipulation.
- Oversees disclosure — listed companies must report financial results and important events on time.
Fictional example: if rumours spread that Nimbus Technologies Ltd has won a large contract, SEBI's rules require the company to disclose material news in a timely and equal way, so that all investors learn it at the same time.
Who does what in the Indian market
A simple map of the institutions that make trading possible.
SEBI — the regulator
The Securities and Exchange Board of India oversees the whole market: exchanges, brokers, intermediaries and listed companies. It exists chiefly to protect investors and keep markets fair.