India’s regulator for securities and investment funds has proposed significant changes to mutual-fund industry rules aimed at boosting transparency and lowering costs for investors. Under the consultation proposal, expense ratios must exclude brokerage and taxes, with full fee-component disclosure upfront. Brokerage caps for cash market trades may fall from 12 to 2 basis points and for derivatives from 5 to 1 basis point. In addition, KYC procedures for new mutual-fund investors would be simplified under the plan. The proposals mark a shift toward clearer disclosure and streamlined access for retail investors.