K] RESEARCH AND OTHER STUDIES

As the primary regulatory body for the securities markets, the SEBI has been entrusted with fostering the development of Indian securities markets and for ensuring investor protection. It is of vital importance that the process of creating an institutional and policy framework for Indian securities markets that is being undertaken by the SEBI be continuously informed by and evaluated through research and analysis of market conditions and practices which is of the highest quality.

In order to ensure that such research and analysis are specifically tailored to the needs of various departments, and are available at relatively short notice, it is necessary that these function be carried out by a suitably staffed and equipped (with computer and library facilities) division within the SEBI. During 1997-98, the SEBI further strengthened the Research department by induction of an Economic Adviser to head the department and Economists. The Research department has worked out a plan of work which includes conducting an Investor Survey, bringing out several annual and half yearly publications on capital market and research papers on issues related to the capital market.