Your mutual fund did not change its name. Its risk may still have changed.

A lot of retail investors use the scheme name as a shortcut for the entire product. If the fund is still called a liquid fund, or a money market fund, or a short-duration fund, they assume the underlying risk must still be roughly where it was when they first bought it. That is understandable. It is also wrong often enough to matter.

In SEBI's framework, the category name and the risk-o-meter do different jobs. The category is a classification label. The risk-o-meter is a live measurement that gets recalculated from the actual portfolio.

The practical reading checklist is simple. Look at the current risk-o-meter, the benchmark risk-o-meter alongside it, the most recent portfolio disclosure, and any notice or addendum communicating a change.