To bring consistency and uniformity with respect to evaluations by the external agency, Sebi on Thursday came out with guidelines for the evaluation of the performance of statutory committees of market infrastructure institutions (MIIs). Under the guidelines, MIIs -- comprising stock exchanges, clearing corporations, and depositories -- are required to appoint an independent external agency to evaluate their performance and the functioning of their statutory committees. This needs to be done once every three years. The first evaluation should cover the 2024-2025 financial year, with a report due by September 30, 2025, Sebi said in a circular. The evaluation will cover areas like roles and responsibilities of committees, the effectiveness of meetings, and governance aspects. The guidelines aim to improve transparency and accountability in the functioning of MIIs and their statutory committees. Additionally, Sebi has asked MIIs to conduct an annual internal evaluation of their ...