SEBI stands for the Securities and Exchange Board of India, which is the regulatory authority for the securities market in India. It was established in 1988 and given statutory powers in 1992. SEBI's mandate is to protect investor interests and regulate the securities market. The word 'Board' is key - it's not a Bank or Exim Bank. Option B incorrectly substitutes 'Bank' for 'Board' and Option C incorrectly uses 'Exim Bank'.