Mutual Fund Distribution on WebNotes

SEBI Execution-Only Platform framework of 2023

Sat, 16 May 2026 00:00:00 +0000

The SEBI Execution-Only Platform (EOP) framework of 2023 is the regulatory framework introduced by SEBI Circular SEBI/HO/IMD/IMD-POD-1/P/CIR/2023/74 dated 12 July 2023 that formalises the regulatory status of online platforms providing execution-only access to direct-plan mutual fund transactions, without providing investment advice. The framework was a response to the structural ambiguity that had existed since the SEBI January 2013 direct plan mandate , under which a generation of commercial digital platforms (Groww , Kuvera , ET Money , INDmoney , Zerodha Coin , Paytm Money) had collectively acquired tens of millions of retail users for direct-plan investing without a clear regulatory category. The 2023 framework defines two EOP categories with distinct registration routes and produces a clear regulatory safe harbour for the direct-plan execution-only model.

B30/T30 incentive framework, Indian mutual funds

Tue, 12 May 2026 00:00:00 +0000

The B30/T30 incentive framework is the SEBI-mandated mechanism that permits mutual fund asset management companies (AMCs) to charge an additional component of the Total Expense Ratio (TER) on inflows sourced from cities and towns beyond the 30 most industrially and financially developed urban centres in India (the “T30” or top 30 cities), with the incremental revenue earmarked for additional distributor commissions to encourage geographic penetration into smaller cities (the “B30” or beyond 30 cities). The framework was introduced in its current form through SEBI circular SEBI/HO/IMD/DF2/CIR/P/2018/137 dated 22 October 2018 (effective 1 April 2019), building on earlier B15/T15 provisions. It is anchored in Regulation 52 of the SEBI (Mutual Funds) Regulations, 1996 and administered by the SEBI Investment Management Department .

Mutual fund aggregator portal landscape in India

Tue, 12 May 2026 00:00:00 +0000

The mutual fund aggregator portal landscape in India encompasses the range of digital platforms that allow investors to access mutual fund schemes from multiple AMCs through a single interface, as distinct from investing directly through an individual AMC’s portal. Aggregator platforms represent a significant share of mutual fund transaction volumes in India and have been the primary channel through which direct-plan investing has grown since the SEBI direct-plan mandate of January 2013.

Mutual fund distribution in India

Tue, 12 May 2026 00:00:00 +0000

Mutual fund distribution in India encompasses the regulatory framework, intermediary categories, technology platforms, and transaction infrastructure through which investors purchase, redeem, and switch units of mutual fund schemes offered by asset management companies (AMCs) registered with the Securities and Exchange Board of India (SEBI) . The distribution ecosystem is governed by SEBI’s Mutual Fund Regulations 1996 , AMFI (Association of Mutual Funds in India) guidelines, and the SEBI Investment Adviser Regulations 2013, with further architecture defined by SEBI’s Execution-Only Platform (EOP) framework of 2023. As of 2025, the industry distributed assets under management (AUM) of approximately Rs. 65 trillion across more than 15 crore unique investor folios.