|With reference to functions of Securities and Exchange Board of India, consider the following statements|
|1. It has power to ensure the orderly development of capital market.|
|2. It has power to protect the investors in the capital market.|
|3. It has power to ensure proper functioning of insurance market in India.|
|4. It has power to regulate the merchant banking in India. Which of the statements given above is/are correct?|
A) 1, 2, 3 and 4
B) 2 and 3
C) 2, 3 and 4
D) 1, 2 and 4
Correct Answer: D
Solution :[d] The Securities and Exchange Board of India (SEBI) is the regulatory body for the investment market in India. The purpose of this board is to maintain stable and efficient markets by creating and enforcing regulations in the market place. Insurance Regulatory and Development Authority of India (IRDAI) is the autonomous apex statutory body which regulates and develops the insurance industry in India.
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