Reduction in filing fees for securities offer documents revises fee schedules for buy backs, public issues, rights, mutual funds and takeovers. SEBI amended the Payment of Fees Regulations effective April 1, 2008, revising fees payable on filing draft offer documents and public announcements across the Buy Back, Merchant Bankers, Takeover, Custodian, Mutual Fund and Venture Capital Fund regulations. The amendments replace prior schedules with tiered fee tables and revised flat charges and percentage rates for public issues, rights issues, buy backs, takeover filings, custodian charges, mutual fund NFO filing fees, and venture capital filing charges, and require merchant bankers to ensure compliance.