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<h1>Depositories Must Implement New Risk Management Framework in 3 Months, Align with Global Standards per SEBI Circular.</h1> The circular mandates depositories to establish a comprehensive risk management framework as per recommendations by the Depository Systems Review Committee, aligning with international financial market infrastructure principles. It requires a board-approved policy with a risk management group led by a Chief Risk Officer, responsible for identifying, evaluating, and mitigating risks from various sources. The framework must address technological, legal, operational, and business risks, and include a risk-tolerance policy. Depositories must amend relevant regulations, implement the framework within three months, and report progress to the Securities and Exchange Board of India.