This note reviews SEBI's mutual fund regulations around transparency, distribution and costs from inception to 2009. It acts as a literature review of the work on assessing the effect of the regulations on costs and distribution approaches in the mutual fund industry, and how costs can reduce the end redemption in the hands of the customer. The note then highlights policy questions on improving retail participation in the mutual fund industry.

Citation: The mutual fund industry in India: growing with regulatory reform, Ekta Selarka and Susan Thomas, FRG Technical Note, November 2010.