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SEBI proposes extending cybersecurity norms to MII subsidiaries
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SEBI proposes extending cybersecurity norms to MII subsidiaries
SEBI proposed extending its cybersecurity framework for Market Infrastructure Institutions to their subsidiaries.
Why it matters: GS-3 core
What you need to know
2 min read
The Securities and Exchange Board of India (SEBI) has proposed extending its existing IT and cyber-security framework, currently applicable to Market Infrastructure Institutions (MIIs) such as stock exchanges, depositories and clearing corporations, to their subsidiary entities as well.
The move aims to close regulatory gaps that could otherwise expose the wider financial system to cyber risk.
SEBI is India's capital markets regulator, established under the SEBI Act, 1992.
Sources: Topper IAS editorial (PIB / The Hindu / Indian Express)
Key facts
Remember these
- SEBI
- MII
- cybersecurity
- stock exchange
Prelims · Mains
How the exam will ask it
Prelims
- SEBI, MII, cybersecurity, stock exchange
Mains
Use as an example in GS-3 answers (GS Paper 3 - Indian Economy, Financial Regulation).
Quick recall
Answer before you reveal
With reference to the Monetary Policy Committee (MPC) of India, consider the following statements:
- It has six members, three nominated by the Government and three by the RBI.
- Its primary mandate is to fix the policy repo rate to maintain price stability.
Which of the statements given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Show answer
Answer: C — The MPC has six members (half from the Government, half from RBI) and is mandated to set the repo rate to meet the inflation target.
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