Significant Indices framework sets AUM thresholds, registration duties, and grievance redressal rules for index providers. SEBI has specified the criteria for identifying Significant Indices under the Index Provider framework. A listed-security benchmark or index is significant where the daily average cumulative mutual fund AUM tracking or benchmarking it exceeds Rs.20,000 crore for each of the past six months, and an index remains significant unless it falls below the threshold for three continuous years. Index Providers offering listed Significant Indices must seek SEBI registration within six months, subject to limited RBI benchmark exclusions, and separate legal entity requirements apply where index provider activity is carried on departmentally. Grievance redressal applies only to Significant Indices provided by SEBI-registered Index Providers.