Question : Which of the following institutions is responsible for regulating and supervising the functioning of mutual funds in India?
Option 1: Reserve Bank of India (RBI)
Option 2: Securities and Exchange Board of India (SEBI)
Option 3: National Stock Exchange of India (NSE)
Option 4: None of the above
Correct Answer: Securities and Exchange Board of India (SEBI)
Solution : The correct answer is (b). Securities and Exchange Board of India (SEBI)
SEBI is the regulatory authority in India responsible for regulating and supervising the functioning of mutual funds. SEBI oversees the mutual fund industry and formulates rules, regulations, and guidelines to ensure the protection of investors' interests and the proper functioning of mutual funds.
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