About Information Technology Resilience Index:
- It is introduced to assess the functioning and resilience of information technology systems of market infrastructure institutions (MIIs), including stock exchanges, depositories and clearing corporations.
- It is an initiative of the Securities and Exchange Board of India.
- Aim: It is aimed at strengthening oversight of the resilience of IT systems and identifying emerging weaknesses at an early stage, so that timely corrective measures can be taken.
- Key Features of IT Resilience Index:
- Parameters: The ITRI will be computed using a uniform set of nine parameters, each carrying a specific weightage.
- These parameters are namely availability, security, integrity, governance, reliability and monitoring, business continuity, modularity and flexibility, scalability, and other relevant factors.
- Weightage: Availability and security will carry the highest weightage of 20 per cent each, followed by integrity, governance, reliability and monitoring, business continuity, and modularity and flexibility at 10 per cent each.
- MIIs would be required to calculate the index on a half-yearly basis within 60 days of the end of each half-year.
- They would also have to submit a comparative analysis of two consecutive half-years on a rolling basis, along with details of corrective actions taken or proposed, to their Standing Committee on Technology (SCOT) and governing boards.
- MIIs will also develop an Early Warning System (EWS) to detect any deterioration in ITRI parameters that could potentially lead to performance issues, system slowness or other disruptions, and take remedial measures.
