Confederation of Indian Industry (CII) launched the "CII Guidelines on Appointment of Independent Directors and Process of Board Evaluation." The publication compiles a set of Guidelines that have been ideated to serve as guidance on role and responsibilities of independent directors, aspects of appointment and Succession Planning, imbibing Diversity, Equity and Inclusion (DEI); need for indemnity and insurance and compensation of independent directors. The importance of Board evaluations has been increasingly recognized as a key element for building good corporate governance. The Guidelines also focus on bringing out effectiveness of the Board through efficient evaluation process.
The CII Guidelines describe how the role and responsibilities of independent directors has evolved over the years and may now also encapsulate crisis and risk management, internal controls, standards of conduct and sustainability in addition to the traditional roles in strategy, finance and audit.