A Cafemutual survey in June 2026 found that nearly 8 in 10 MFDs reported their income had fallen by more than 20% following SEBI's revised expense ratio norms and GST-related changes. For most of the industry, April 2026 was not an administrative adjustment. It was an income event. SEBI's revised Total Expense Ratio (TER) framework, effective 1 April 2026, changed how commissions are calculated and paid. For many MFDs, this has meant a direct reduction in monthly earnings. This article...

In the current GST structure, every registered MFD is extending the system an interest-free loan every month. You pay the government first. You wait for reimbursement. And most have accepted this as the cost of doing business. That cost is not trivial. In FY 2024-25, India's mutual fund industry paid over ₹2,200 crore in GST on distribution commissions. A significant portion of that sat outside MFDs' accounts for 20 or more days each month, tied up in invoice verification cycles across two...

Retirement today can mark the start of a vibrant new chapter. Across India, many retirees seek purposeful, flexible work to stay both mentally engaged and financially active. While life expectancy at birth in India has now crossed 70 years, people who retire around age 60 can expect, on average, nearly 20 more years of life. Many choose to use this time as productive, meaningful years after formal retirement. At the same time, household financial needs are becoming increasingly complex....