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@rski SEBI has only laid down an "upper limit" on the TER that can be charged for a fund, based on the AUM of the fund. Reference: ET Money While keeping within these limits, AMC are allowed to increase/decrease the TER of any fund they offer. Hope that clarifies things. You're point regarding...

@rski Sure. And what stops the AMC from increasing TER for both the Regular and Direct plans, while keeping the difference constant at 1.59%?

@rski Get your facts right, dude. To give you an example, the TER for UTI Nifty Index Fund was increased from 0.1% to 0.18% just recently. If this is the case for an index fund, for an actively managed fund like a Flexicap fund, the SEBI allowed TER limits would be much higher.