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India Index Providers Face Sebi Registration Deadline
6 May
Summary
- Sebi requires significant index providers to register within six months.
- Indices with over ₹20,000 crore AUM are classified as significant.
- Exemptions apply to indices notified by the Reserve Bank of India.
The Securities and Exchange Board of India (Sebi) has issued a new directive requiring index providers of 'significant indices' to register within six months. This regulation aims to enhance oversight of key financial benchmarks.
Indices will be classified as 'significant' if their average daily cumulative Assets Under Management (AUM) across mutual fund schemes surpasses ₹20,000 crore for specific six-month periods. Sebi has identified 48 such indices as of July-December 2025 data, covering various equity and debt benchmarks.
However, index providers whose indices are already designated as 'significant benchmarks' or 'authorised benchmarks' by the Reserve Bank of India are exempt. Entities providing significant indices departmentally must form a separate legal entity within two years.
Registered providers offering 'significant indices' will be eligible for grievance redressal under the new regulations. Current providers can continue operations by submitting registration applications within the stipulated timeframe.
