Why does mutual fund keep changing tax expense ratio(TER) at a regular interval?

I guess many people have the same idea that the mutual fund companies change the TER on their own. Actually, the truth is far from it. The MF companies pay heed to the instructions that the regulator (SEBI) provides. Now, how does the regulator change its mind so frequently and why do they tinker with the asset class which provides so much of structured savings and investment option to us, is indeed a big question.

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