Step 1: Concept
Development Functions of SEBI.
Step 2: Meaning
SEBI performs specific functions designed to promote the growth, modernization, and education of the securities market and its participants.
Step 3: Analysis
• Training of Intermediaries: SEBI promotes the training of intermediaries of the securities market (like brokers and sub-brokers) to ensure healthy market practices and professionalism.
• Research and Publication: SEBI conducts research and publishes useful information and data to help all market participants (investors, companies, and intermediaries) make informed decisions.
• Adopting Flexible Approaches: SEBI undertakes measures to develop the capital markets by adopting a flexible approach, such as permitting internet trading through registered stock brokers and allowing initial public offerings (IPOs) in the primary market through stock exchanges.
Step 4: Conclusion
These developmental steps are crucial for expanding the market's reach and ensuring that the infrastructure remains modern and efficient.
Final Answer: 1. Training intermediaries, 2. Research and publication, 3. Adopting flexible approaches.