The following booklet titled “Emerging Scenario in the Capital Market and SEBI’s Role” was published on August 14, 1994, and was authored by V.H. Pandya. Keeping in mind the significant growth of the capital market between the 1970s and 1990s, the author describes the various developments that the liberalisation policy of 1991 brought in the financial sector. Some of the reforms carried out in the capital market at the time of liberalisation were statutory recognition to SEBI to regulate the markets, removal of control of issue and price on capital, the establishment of mutual funds in the private sector, etc. The author in the booklet explains various measures undertaken by SEBI in the primary and secondary markets to bolster the growth of the capital market in India.