Lesson 9 of 50 for advisers · Direct by default on fund-house apps · 3 min read · Reviewed 13 Nov 2026
SEBI’s chairman was reported in late October 2026 as saying that from 1 Nov 2026 direct plans would be the default on fund houses’ own platforms, with regular-plan buyers shown the higher expense. As of 13 Nov 2026 no SEBI circular had been published, so the written rules are unchanged: every scheme offers a direct plan, and distributor platforms are not affected.
The change was reported from a speech by SEBI’s chairman in late October 2026. A fund house’s own app or website would open on the direct plan.
As of 13 Nov 2026 SEBI had published no circular or press release on it, so the details are not yet in writing.
What is in writing already: every scheme must offer a direct plan with its own NAV, and the direct plan may not charge more than the regular plan under any expense head.
Key idea: Until the circular lands, treat the change as announced, not final, and check sebi.gov.in before telling clients.
Try the short quiz on this page to check what stuck.
The reported change is about fund houses’ own digital platforms. Purchases through a distributor are not part of it.
In a SEBI circular on sebi.gov.in. Reva will update this lesson when it is published.
It differs by scheme. Each fund house publishes both expense ratios daily on its site and on AMFI’s.
For learning only, not investment advice. Built in India by a team that tracks its own money on Reva.