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, promote the development of the securities market, and regulate its functioning. SEBI ensures that the market operates in a fair and transparent manner. SEBI has the power to create regulations for various market participants, including stock exchanges, brokers, and mutual funds. It also conducts investigations and enforcement actions to prevent fraudulent activities and insider trading, thereby fostering investor confidence in the Indian financial system.