Direct mutual fund plans to become default from November 1
SEBI chief Tuhin Kanta Pandey said direct mutual fund plans will become the default option from November 1. This means investors who do not pick a plan will be placed in a direct plan. The change applies to mutual fund schemes across the market.
Context
Context: SEBI is India's markets regulator. Direct plans are bought straight from the fund house without a distributor, so they usually have lower charges than regular plans that pay commission to agents.
Burning Potato score: 61%