Sebi proposes IT resilience index for market infrastructure institutions

Regulator seeks to standardise metrics and strengthen oversight of critical IT systems across market infrastructure institutions, including exchanges and depositories

The Securities and Exchange Board of India (Sebi) on Wednesday proposed a framework to introduce an IT Resilience Index (ITRI) for market infrastructure institutions (MIIs), including stock exchanges, clearing corporations, and depositories, aimed at strengthening oversight of critical technology systems.

 

In a consultation paper released on March 25, the regulator said the proposed index would provide a standardised, system-driven measure of the health and robustness of IT systems, enabling MIIs to track performance over time and identify gaps.

 

Sebi said the move seeks to create a uniform set of metrics and weightages that would allow comparisons across institutions while improving internal governance and risk monitoring.

 

 

“The IT systems of MIIs are the cornerstone of their smooth and uninterrupted functioning,” Sebi noted, adding that an index-based approach would give management and oversight committees actionable insights into system resilience.

 

As per the draft framework, the ITRI will be computed using multiple parameters, such as availability, security, integrity, governance, and business continuity. 

MFs’ intraday borrowing norms deferred to July 15 

The Securities and Exchange Board of India (Sebi) has deferred the implementation of guidelines on intraday borrowings by mutual funds to July 15, 2026, following operational concerns flagged by the industry. In a circular issued on Wednesday, the regulator said the revised timeline applies specifically to provisions related to intraday borrowings that were introduced earlier this month as part of a broader framework governing borrowing by mutual funds.