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The SEBI was given statutory recognition in 1992 on the recommendation of
1. the Chakraborty Commission
2. the Chelliah Committee.
3. the Tendulkar Committee.
4. the Narasimham Committee.

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Correct Answer - Option 4 : the Narasimham Committee.

The correct answer is the Narasimham Committee.

  • The SEBI was given statutory recognition in 1992 on the recommendation of the Narasimham Committee.
    • The Securities and Exchange Board of India (SEBI), was initially constituted on April 12, 1988.
    • SEBI is the regulatory body for dealing with all matters related to the development and regulation of the securities market in India.
    • SEBI is situated in Mumbai with its regional offices in Kolkata, Delhi, and Chennai.
    • SEBI is managed by six members:
      • one chairman (nominated by Central Government), two members (officers of central ministries), one member (from RBI), and the remaining two members are nominated by Central Government.
    • SEBI’s primary functions include protecting investor interests, promoting and regulating the Indian securities markets.
    • All financial intermediaries permitted by their respective regulators to participate in the Indian securities markets are governed by SEBI regulations.
    • Ajay Tyagi was appointed as the chairman of SEBI and took charge on March 1, 2017. He was the 9th chairman of the SEBI.
    • The chairman of the SEBI is made for a period not exceeding five years, or till the age of 65 years or until further orders.
  • Narasimham Committee:
    • It was established under former RBI Governor M. Narasimham in August 1991 to look into all aspects of the financial Banking system in India.

The Chakraborty Commission
  • It was formed in December 1982 under the chairmanship of Prof. Sukhamoy Chakroborty to assess the functioning of the Indian Monetary system.
  • Its goal was to improve monetary regulation, a feat that was hoped would enable price stability.
The Chelliah Committee
  • The Government appointed a Tax Reforms Committee under Prof Raja Chelliah to lay out the agenda for reforming India's tax system.
  • This TRC came up with three reports in 1991, 1992, and 1993.
The Tendulkar Committee
  • An export Group headed by Prof. Suresh D. Tendulkar was constituted in 2005 to review the methodology for the official estimation of poverty and recommend changes in the existing procedures.
  • The Tendulkar Committee submitted its report in 2009.

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