Bond index introduction allows exchanges to construct and disseminate bond indices, enabling future derivatives development. Exchanges are directed to construct and disseminate Bond Indices for corporate bonds and government securities, choosing either existing global computation models or proprietary models, and to publish the detailed index computation methodology for market participants; derivatives on these Bond Indices will be considered for later introduction based on experience and market awareness, and the circular is issued under SEBI's authority to promote securities market development and is effective from its date of issuance.