The paper proposes to define and operationalise the concept of ‘Significant Indices’. Under the proposal, an index will be classified as significant if it is tracked or benchmarked by domestic mutual fund schemes with cumulative assets under management (AUM) exceeding Rs 20,000 crore, calculated on a six-month daily average basis ending June 30 and December 31 each year. The computation rules are prescribed for schemes tracking multiple indices and for indices of indices. SEBI has also released a provisional list of significant indices and clarified that providers of such indices must apply for registration within six months, unless the indices are already regulated by the Reserve Bank of India. The comments/ feedback is invited from stakeholders.