SEBI introduces IT Resilience Index for market infrastructure institutions

Market regulator SEBI has introduced an Information Technology Resilience Index (ITRI) for market infrastructure institutions (MIIs) including stock exchanges, clearing corporations and depositories. The index, announced in a circular on August 24, 2026, assesses MIIs on nine parameters: availability, security, integrity, governance, reliability and monitoring, business continuity, modularity and flexibility, scalability, and incident handling. Availability and security carry the highest weight at 20% each.

MIIs will compute the index on a half-yearly basis within 60 days of each half-year end and submit a comparative analysis to their Standing Committee on Technology and governing boards. They must also develop an Early Warning System to detect deterioration in parameters. The Industry Standards Forum of MIIs will finalise sub-parameters and measurement criteria by November 30, 2026. A beta version of the framework is already in place, with full rollout including real-time monitoring set for February 28, 2027.

The Hindu notes the ITRI is among the first global attempts by a regulator to create a quantitative resilience barometer for MIIs, shifting from compliance-based oversight to risk monitoring. Separately, SEBI has aligned its Cyber Incident Reporting Portal with the global FIRE framework, requiring regulated entities to report incidents through a lifecycle approach.