RBIThe Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank

of India Act, 1934. Main Functions Monetary Authority: Formulates, implements and monitors the monetary policy. Objective: maintaining price stability and ensuring adequate flow of credit to productive sectors. Main Functions Monetary Authority: Formulates, implements and monitors the monetary policy. Objective: maintaining price stability and ensuring adequate flow of credit to productive sectors. Regulator and supervisor of the financial system: Prescribes broad parameters of banking operations within which the country's banking and financial system functions. Objective: maintain public confidence in the system, protect depositors' interest and provide cost-effective banking services to the public. Manager of Foreign Exchange. Manages the Foreign Exchange Management Act, 1999. Objective: to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India. Issuer of currency: Issues and exchanges or destroys currency and coins not fit for circulation. Objective: to give the public adequate quantity of supplies of currency notes and coins and in good quality. SEBIThe Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992. For the discharge of its functions efficiently, SEBI has been invested with the necessary powers which are: 1- to approve by laws of stock exchanges. 2- to require the stock exchange to amend their by laws. 3- inspect the books of accounts and call for periodical returns from recognized stock exchanges. 4- inspect the books of accounts of a

financial intermediaries. 5- compel certain companies to list their shares in one or more stock exchanges. 6- levy fees and other charges on the intermediaries for performing its functions. 7- grant license to any person for the purpose of dealing in certain areas. 8- delegate powers exercisable by it. 9- prosecute and judge directly the violation of certain provisions of the companies Act.