Which of the following is not a recognized SEBI-registered intermediary?

Banks are not securities market intermediaries; others are regulated by SEBI. SEBI regulates more than 35,000 entities and intermediaries across the following types:  • Stock exchanges like NSE and BSE   • Commodity exchanges like MCX, NCDEX  • Depositories (like NSDL and CDSL), Depositary Participants (DP) and designated depository participants (DDP)  • Clearing Corporations  • Mutual Funds  • Collective Investment Schemes (CIS)  • Alternative Investment Funds (AIFs)  • Infrastructure investment Trusts (InvITs)  • Real estate Investment Trusts (REITs)  • Foreign Portfolio Investors (FPIs)  • Credit Rating Agencies (CRAs)  • Market intermediaries like stock-brokers, investment managers, merchant bankers, registrars and transfer agents, research analysts, underwriters, vault managers, etc.