The high-level group on cyber security that makes recommendations for safeguards to protect the capital markets from such attacks has been reorganised by the Securities and Exchange Board of India (Sebi). According to a report from news agency PTI, Navin Kumar Singh, DG at the National Critical Information Infrastructure Protection Center (NCIIPC), will preside over the group, which currently has six members.
The Securities and Exchange Board of India (Sebi) provided an update, revealing that the committee had only four members. Sanjay Bahl, director general of the Indian Computer Emergency Response Team (CERT-In), and H Krishnamurthy, a former chief research scientist at IISC Bangalore, are the other members of the panel.
The other committee members are Sugata Gangopadhyay, head of the Computer Science and Engineering department at IIT Roorkee, Sandeep Shukla, Debdeep Mukhopadhyay, professors at the Department of Computer Science and Engineering at IIT Kanpur and IIT Kharagpur, respectively.
Notably, the high-powered steering committee has been given the responsibility of managing and offering general guidance on cyber security initiatives for Sebi as well as for the entire capital market. In addition, it will help Sebi develop and maintain cyber security and resilience requirements that align with international best practices and industry standards to meet the needs of the Indian capital market structure.
The panel will also suggest ways to strengthen the Indian securities market’s business continuity and disaster recovery procedures, and cyber resilience. The committee will investigate significant cyber-attacks against financial markets in domestic and international markets and find weaknesses in the framework for cyber security and cyber resilience already in place.

According to the report, the panel will frequently assess the purpose and operation of Security Operations Centers and advise Sebi on establishing a Cyber Lab/Cyber Center of Excellence for the securities market.