The Securities and Exchange Board of India (SEBI) is the regulatory authority for the securities market in India. Established in 1992, its primary purpose 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 and transparency. SEBI's functions include registering and regulating market participants, conducting investigations, and enforcing securities laws. It also works to educate investors about the risks and benefits of investing in the market. By maintaining a stable and efficient market, SEBI aims to foster investor confidence and economic growth.