The Securities and Exchange Board of India (SEBI) has introduced the Information Technology Resilience Index (ITRI) for Market Infrastructure Institutions (MIIs) to assess the resilience and functioning of their information technology systems.
The Information Technology Resilience Index (ITRI) is designed to evaluate the functioning, reliability and resilience of IT systems operated by Market Infrastructure Institutions (MIIs), including stock exchanges, depositories and clearing corporations.
The initiative aims to strengthen regulatory oversight of IT systems and identify emerging weaknesses at an early stage so that institutions can take timely corrective measures and reduce the risk of technological disruptions.
The ITRI will be calculated using a uniform set of nine parameters, each carrying a specific weightage to ensure comparability across different Market Infrastructure Institutions.
These parameters include availability, security, integrity, governance, reliability and monitoring, business continuity, modularity and flexibility, scalability, and other relevant factors.
Availability and security will carry the highest weightage of 20% each. The source specifies a weightage of 10% each for integrity, governance, reliability and monitoring, business continuity, and modularity and flexibility.
The source does not specify the individual weightages for scalability and other relevant factors.
Market Infrastructure Institutions will be required to calculate the ITRI every six months, within 60 days of the end of each half-year.
They must also submit a comparative analysis of two consecutive half-years on a rolling basis, along with details of corrective actions already taken or proposed. These reports must be submitted to their Standing Committee on Technology (SCOT) and governing boards.
Market Infrastructure Institutions will also be required to develop an Early Warning System (EWS) to detect any deterioration in ITRI parameters at an early stage.
The system will help identify weaknesses that could potentially lead to performance issues, system slowness or other disruptions, enabling institutions to take appropriate remedial measures in a timely manner.
The ITRI is intended to strengthen the technological resilience of India’s securities market by promoting systematic assessment of IT systems and early identification of vulnerabilities. It will also encourage regular monitoring, accountability and timely corrective action among Market Infrastructure Institutions.
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We provide offline, online and recorded lectures in the same amount.
Every aspirant is unique and the mentoring is customised according to the strengths and weaknesses of the aspirant.
In every Lecture. Director Sir will provide conceptual understanding with around 800 Mindmaps.
We provide you the best and Comprehensive content which comes directly or indirectly in UPSC Exam.
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