SEBI Introduces IT Resilience Index for MIIs

The Securities and Exchange Board of India introduced the Information Technology Resilience Index framework for Market Infrastructure Institutions on 24 August 2026. The framework assesses the operational resilience and security of critical information technology systems on a 100-point scale across nine parameters.

Market Infrastructure Institutions

Market Infrastructure Institutions in India include stock exchanges, clearing corporations, and depositories. These institutions form the core infrastructure for trading, settlement, and custody in the securities market.

IT Resilience Index framework

The Information Technology Resilience Index uses nine parameters for assessment. Availability and security carry 20 points each, which is the highest weightage in the framework.

• Integrity carries 10 points in the index.
• Governance carries 10 points in the index.
• Reliability and monitoring carry 10 points in the index.
• Business continuity carries 10 points in the index.
• Modularity and flexibility carry 10 points in the index.
• Scalability carries 5 points in the index.
• Incident handling carries 5 points in the index.

Compliance, monitoring, and rollout

SEBI directed Market Infrastructure Institutions to develop an Early Warning System for detecting early signs of deterioration in the index parameters. The Industry Standards Forum of Market Infrastructure Institutions will finalise the sub-parameters and measurement criteria for each metric.

Market Infrastructure Institutions must calculate the index score half-yearly within 60 days after the end of each period and submit a comparative analysis to the Standing Committee on Technology and their governing boards. SEBI set 28 February 2027 as the deadline for full rollout of the framework, including real-time service delivery monitoring and the Early Warning System.

Important Facts for Exams

• The Securities and Exchange Board of India is the statutory regulator of the securities market in India.
• Market Infrastructure Institutions include stock exchanges, clearing corporations, and depositories.
• The Information Technology Resilience Index is based on a 100-point scale.
• The Standing Committee on Technology is a governance body used by Market Infrastructure Institutions for technology oversight.