The circular states that an index based on listed securities will qualify as a Significant Index if the daily average cumulative assets under management (AUM) tracking or benchmarking the index across mutual fund schemes exceeds Rs 20,000 crore for each of the past six months ending June 30 and December 31 every year. It has been clarified that an index will continue to remain classified as significant unless its tracked AUM falls below the threshold for three continuous years. SEBI also released a list of Significant Indices, including major indices such as NSE Nifty 50 and BSE Sensex.