MUMBAI, Jan. 19 -- The Securities and Exchange Board of India (Sebi) has proposed a financial threshold to determine which market indices will fall under its regulatory oversight.

In a consultation paper released on Monday, the regulator said any index tracked or used as a benchmark by domestic mutual fund schemes with cumulative assets under management (AUM) of more than Rs.20,000 crore will be designated a "significant index" and brought under the Index Provider Regulations introduced in 2024.

The proposal is aimed at improving transparency and accountability in the governance and administration of indices, Sebi said.

The market watchdog has recommended computing cumulative AUM using the daily average AUM of domestic mutual fund sche...