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<h1>SEBI Mandates External Evaluation of MIIs' Statutory Committees Every 3 Years; First Evaluation for FY 2024-2025</h1> The circular issued by SEBI outlines the parameters for external and internal evaluation of the performance of statutory committees within Market Infrastructure Institutions (MIIs), including stock exchanges, clearing corporations, and depositories. It mandates MIIs to appoint an independent external agency for performance evaluation every three years, with the first evaluation covering the fiscal year 2024-2025. The evaluation criteria include roles, responsibilities, meeting effectiveness, and governance aspects. Additionally, MIIs are required to conduct annual internal evaluations. The circular emphasizes consistency and uniformity in evaluations and necessitates amendments to relevant rules and regulations for implementation.