The Securities and Exchange Board of India (SEBI) is the regulatory authority for the securities market in India. Established in 1988 and given statutory powers in 1992, its primary role is to protect the interests of investors and promote the development of the securities market. SEBI regulates stock exchanges, mutual funds, and other market intermediaries to ensure fair practices. SEBI's functions include registering and regulating market participants, conducting investigations, and enforcing compliance with securities laws. It also works to educate investors about the risks and benefits of investing in the market, aiming to create a transparent and efficient financial environment in India.