Which organization regulates securities and commodity markets in India?

The Securities and Exchange Board of India (SEBI) is the primary regulatory authority that oversees the securities and commodity markets in India. SEBI was established to protect investor interests, promote and regulate the securities market, and ensure the orderly development of the capital market in India. It is responsible for formulating policies and regulations aimed at fostering market integrity, transparency, and efficiency.

SEBI's key functions include registering and regulating the stock exchanges, developing a code of conduct for market intermediaries, approving stock issues, and monitoring substantial shareholdings in listed companies. By fulfilling these responsibilities, SEBI plays a crucial role in ensuring fair trading practices and safeguarding investors against market malpractices.

In contrast, the other organizations mentioned serve different functions. The Reserve Bank of India (RBI) is the central bank responsible for monetary policy, managing currency, and regulating financial institutions but does not directly regulate securities markets. The National Payments Corporation of India focuses on retail payment systems and not on securities or commodities. The Insolvency and Bankruptcy Board of India (IBBI) deals with insolvency regulations and processes, thereby contributing to the financial stability of firms but not specifically regulating the securities market.