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.

SEBI 2023 on WebNotes

SEBI Execution-Only Platform framework of 2023