SEBI and MII Recruitment — should the regulator focus on monitoring the Board instead of micromanaging the hiring process

SEBI’s proposal to oversee Market Infrastructure Institution (MII) recruitment risks compromising the independence and accountability of these institutions by stepping into operational roles better suited for their Boards. Strengthening governance requires holding Boards accountable and refining oversight frameworks, not micromanaging recruitment processes where cultural fit and nuanced dynamics are critical, points out corporate advisor and policy researcher Srinath Sridharan.