What Is the RAASB?
RAASB is the Research Analyst Administration and Supervisory Body. It is the layer that administers and supervises SEBI-registered Research Analysts in India, and it came into the picture with the December 2024 amendments that moved RAs to a deposit model. SEBI still writes the rules; RAASB runs a lot of the day-to-day administration beneath them.
Not legal advice. A plain-English definition for SEBI Research Analysts. The exact scope and mechanics of RAASB can change. For your current obligations, rely on the latest master circular and the RAASB portal, not this summary.
The short definition
RAASB is short for Research Analyst Administration and Supervisory Body. The name does the explaining: it is the body that administers and supervises Research Analysts. It is not a new regulator sitting above SEBI. It is an administrative and supervisory layer that operates under SEBI, handling the routine work of running the Research Analyst regime so SEBI does not have to do all of it directly.
If you have only ever known the older setup, the simplest way to place RAASB is this: it arrived with the December 2024 amendments, alongside the shift from a flat net-worth test to a deposit model. RAASB is the body that administers that deposit-based regime.
How RAASB relates to SEBI
SEBI is the statutory regulator. It writes the SEBI (Research Analysts) Regulations, issues amendments and circulars, runs inspections, and enforces the rules. None of that moves to RAASB. What RAASB takes on is the administration and supervision underneath: the operational machinery that keeps a large population of registered analysts administered consistently.
Think of it as a division of labour. SEBI owns the rulebook and the enforcement power. RAASB carries a share of the day-to-day administration so the system scales. For an individual RA, the practical effect is that some of what you used to associate only with SEBI now runs through RAASB instead.
Where RAASB sits in the registration and supervision flow
Becoming a Research Analyst still follows the familiar sequence: meet one of the eligibility paths, pass the NISM Series XV exam, prepare your documents, and apply to SEBI. We cover that end to end in the registration guide. What changed in December 2024 is the part around net worth and ongoing supervision.
Under the older approach, an individual RA had to show a minimum net worth, certified by a Chartered Accountant. The 2024 amendments moved many RAs to a deposit model administered through RAASB in place of that flat net-worth test. So RAASB is the body sitting on the supervision side of the line: not the front door of registration so much as the layer that administers the deposit and the supervisory mechanics that go with the post-2024 regime.
What an RA actually interacts with RAASB for
In day-to-day terms, RAASB is one of the references you check, not a constant touchpoint. The RAASB portal is treated as an authoritative source for current obligations, which is why it tends to be named alongside the latest master circular whenever the question is "what is the current position?" rather than a historical one.
The exact mechanics, the deposit, the supervisory processes, and how they run through the portal, were clarified in SEBI's July 2025 FAQs and then consolidated into the 2026 master circular. If you want the full sweep of how the rulebook moved from 2014 to today, that is the subject of the master circular timeline. The short version: RAASB is the administrative and supervisory body that the deposit-model reform created, and the RAASB portal is where you confirm the current rules.
For registered RAs
Aktai for Research Analysts: built for Regulation 25 compliance
RAASB sits on the supervision side. The day-to-day burden once you are registered is record keeping. Aktai for Analysts logs every research note and client communication in tamper-evident form, with CSV export for SEBI inspection, plus real-time BSE and NSE filing alerts and white-label delivery over WhatsApp and Telegram. Built specifically for independent SEBI RAs.
See Aktai for AnalystsFAQ
What does RAASB stand for?
RAASB stands for the Research Analyst Administration and Supervisory Body. It is the body that handles the day-to-day administration and supervision of SEBI-registered Research Analysts in India. It came into the picture with the December 2024 amendments to the Research Analyst regime, which moved RAs to a deposit model administered through RAASB rather than the old flat net-worth test.
Is RAASB the same as SEBI?
No. SEBI is the statutory regulator that writes and enforces the Research Analyst rules. RAASB is the administrative and supervisory layer that operates under SEBI to handle the routine work of administering Research Analysts, such as the deposit and supervisory mechanics introduced in 2024. SEBI still owns the regulations; RAASB runs much of the day-to-day administration beneath it.
What do Research Analysts interact with RAASB for?
Practically, RAASB is where a lot of the ongoing administration sits under the post-2024 regime: the deposit arrangement that replaced the flat net-worth test, and the supervisory and portal-based processes that go with it. The RAASB portal is treated as an authoritative reference for current obligations, so it is one of the first places to check alongside the latest master circular.
When was RAASB introduced?
RAASB entered the Research Analyst regime through the December 2024 amendments, which reshaped the rules around a deposit model administered via RAASB in place of the old flat net-worth requirement. The July 2025 SEBI FAQs then clarified the practical mechanics, including the deposit and audit details, and the 2026 master circular consolidated everything into one current reference.