Assess the effectiveness of SEBI in fulfilling its envisaged role of regulating the securities market, ensuring transparency, and protecting investors' interests.

SEBI refers to the regulatory body for the securities exchange & stock markets of India. It is a statutory body under the SEBI Act. ROLE OF SEBI (1) ensuring transparency in functioning of stock markets (2) Investor protection from frauds, scams and market volatility (3) Promote capitalization of Indian stock market and Indian companies (4) Prevent corruption, under trading, stock market scams eg: 1992 Harshad Mehta