Two mutual fund schemes will be revised in Risk-O-Meter: Tata Mutual Fund and Union Mutual Fund. The Risk-o-metre, a risk gauge introduced by the Securities and Exchange Board of India (SEBI), gives investors an overall idea of the risk associated with a scheme. 

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This scheme has six levels of risk: low, low to moderate, moderate, moderately high, high and very high. This will indicate the risk of the portfolio of an investment scheme. Risk o meter will help in capitalisation impact cost and volatility to gauge the risk level. Also helps with credit risk, liquidity risk, and interest rate risk. On a monthly basis, it is mandatory to review this scheme as per SEBI guidelines.

The Risk-O-Meter came into effect on 10 September 2022. The risk level for all three schemes has been revised downwards. In the case of the Union Money Market Fund, the Risk-o-meter of the benchmark index, CRISIL Money Market Fund BI Index, has changed from moderate to low to moderate.