Public Interest Director Evaluation

SEBI has mandated all MIIs (Market Infrastructure Institutions including Stock Exchanges, Clearing Corporations and Depositories) to have the Public Interest Directors appointed on their Board to be externally evaluated upon completion of their first term of appointment (3 years) for a re-appointment for a second term (another 3 years). SEBI also mandates MIIs to disclose in their Annual Report as well as on the company's website, the performance evaluation criteria for PIDs.

Independent External Person Evaluation

SEBI has mandated that all MIIs (Market Infrastructure Institutions, which include stock exchanges, clearing corporations, and depositories) conduct performance reviews of Independent External Persons (IEP) in MII committees. Recognising the critical role that IEPs play in enforcing governance norms and protecting the interests of investors, SEBI has ordered that their performance be reviewed on a regular basis. After completing their initial term of appointment (3 years), IEPs are evaluated for a re-appointment for a second term (another 3 years).

Public Interest Directors (PIDs) and Independent External Persons (IEPs), appointed by MIIs, play pivotal roles in safeguarding the interests of all stakeholders and upholding the highest standards of governance. This collectively strengthens the foundation of responsible governance within market infrastructure institutions. They enhance stakeholder confidence in the regulatory processes, reinforcing the commitment to protect the public interest and uphold ethical standards in the world of financial and market infrastructure.