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India’s SEBI May Raise Cap on Brokerage Fees for Mutual Funds
SEBI signals it may raise the brokerage-fee cap for mutual funds after concerns from asset managers.
On 6 November 2025, regulator Securities and Exchange Board of India (SEBI) indicated it may ease a proposed sharp cut to the brokerage fee cap for mutual funds. The earlier plan would have lowered the cap from 12 basis-points to 2 basis-points for cash market trades. Asset managers argued such a steep cut could restrict research access and disadvantage domestic brokers. SEBI’s consultations with industry sources are ongoing and a revised fee-cap decision is expected by mid-November.