Answer : 4. "1988"
Explanation :

The Securities and Exchange Board of India was constituted on 12th April 1988. It is the regulator of the securities and commodity market in India owned by the Government of India. It was given Statutory Powers on 30th January 1992 through the SEBI Act, 1992. SEBI has its headquarters at the business district of Bandra Kurla Complex in Mumbai and has Northern, Eastern, Southern, and Western Regional Offices in New Delhi, Kolkata, Chennai, and Ahmedabad respectively. Controller of Capital Issues was the regulatory authority before SEBI came into existence; it derived authority from the Capital Issues (Control) Act, 1947. The aim of SEBI is .to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental thereto. Ms. Madhabi Puri Buch is the current Chairman of SEBI.