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<h1>SEBI Issues New Cybersecurity Guidelines for Market Infrastructure Institutions: Encrypted Backups, Multi-Factor Authentication & More Required.</h1> The circular issued by SEBI outlines guidelines for Market Infrastructure Institutions (MIIs), including stock exchanges, clearing corporations, and depositories, to enhance their cybersecurity and cyber resilience frameworks. Given the interconnectedness of MIIs, the guidelines emphasize maintaining encrypted data backups, regular testing of system images, and retaining spare hardware. MIIs are urged to conduct business continuity drills, regular vulnerability scans, and software updates. They must implement cybersecurity awareness programs, email filters, and endpoint protection, and employ multi-factor authentication. The guidelines also cover secure management of IT assets, network segregation, and compliance with advisories from CERT-In and other agencies. Compliance with these guidelines is mandatory within 120 days.