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<h1>SEBI Mandates New IT Governance Framework for Depositories: Requires Board-Level IT Strategy and Annual Policy Review.</h1> The Securities and Exchange Board of India (SEBI) issued guidelines to enhance IT governance for depositories based on the Depository System Review Committee's recommendations. Depositories must establish a Board-level IT Strategy Committee to align IT with business goals and an executive IT Steering Committee to implement strategies. An IT strategy document and Information Security policy, reviewed annually, are required. A Chief Information Security Officer (CISO) will oversee IT risk management. Additionally, a senior official must lead the Business Continuity Plan (BCP) function. Necessary amendments to bylaws and regulations must be made to implement these directives, aiming to protect investor interests and regulate the securities market.