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of <h1>SEBI General Fund receives grants and fees while maintaining 25% surplus as Reserve Fund under Section 14</h1> Section 14 of the Securities and Exchange Board of India Act, 1992 establishes the Securities and Exchange Board of India General Fund. The fund receives grants, fees, charges, and other sums as determined by the Central Government. Fund applications include salaries and remuneration for board members and employees, operational expenses, and capital expenditure per approved plans. The board must maintain a Reserve Fund receiving twenty-five percent of annual surplus, capped at two years' expenditure. Remaining surplus transfers to the Consolidated Fund of India after meeting expenses and reserve requirements.
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