To prevent recurrence of scams in Indian Capital Market, the Government of India has assigned regulatory powers to

1. The question asks which body has been assigned regulatory powers by the Government of India to prevent the recurrence of scams in the Indian Capital Market. 2. The Indian Capital Market involves the trading of stocks, bonds, and other securities. 3. Following major scams in the capital market (like the Harshad Mehta scam in 1992), there was a need for a strong, independent regulator. 4. The Securities and Exchange Board of India (SEBI) was initially established in 1988 as a non-statutory body but was given statutory powers through the SEBI Act, 1992. 5. SEBI's mandate is to protect the interests of investors in securities, promote the development of the securities market, and regulate the securities market. 6. The Reserve Bank of India (RBI) is the central bank and regulates the banking system and monetary policy, not primarily the capital market. 7. The State Bank of India (SBI) is a major public sector commercial bank. 8. Therefore, SEBI is the regulatory body assigned powers over the Indian Capital Market.