Indices with over ₹20,000 crore in AUM to be called significant indices: SEBI

Securities and Exchange Board of India (SEBI) specified that a Benchmark or Index that mutual fund tracks is ‘significant index’ if it has an AUM beyond ₹20,000 crore, in a circular released 6 May 2026.

The threshold will be tested every six months, the capital market watchdog said. 

“It is specified that a Benchmark or Index (including index of indices) based on listed securities shall be considered as ‘Significant Indices’, if the daily average cumulative Asset Under Management (AUM) tracking the

Benchmark or Index across schemes of Mutual Fund(s) exceeds ₹20,000 Crore

for each of the past six months, ending on 30th June and 31st December each year,” SEBI said in the circular. The regulator mentioned 48 indices which include BSE 100, BSE 500, Nifty 50, Nifty Bank under the list of significant indices

Index providers who provide indices which do not come under the RBI “shall submit an application for registration as an Index Provider to SEBI,” within six months from the date of the circular, the regultor said.