The banking sector mirrors the economy and is pivotal to economic growth. Introduction of major policy reforms, huge untapped potential in India and the diversity of the sector are drivers of growth and present a compelling investment opportunity. SBI-ETF Nifty Bank emulates the Nifty Bank Index that essentially reflects the capital market performance of Indian Banks, allowing you to tap into this potential. Invest and be a part of this growth.
- Minimum application amount directly with fund: Authorised Participants and Large Investors can directly purchase/ redeem in blocks from the fund in 'Creation Unit' size on any business day. On the Exchange – The units of the scheme can be purchase/ redeem in minimum lot of 1 unit and in multiples thereof.
- Dematerialization: The units of the Scheme will be available in the Dematerialized (electronic) mode only.
The applicant under the Scheme will be required to have a beneficiary account with a Depository Participant of NSDL/CDSL and will be required to indicate in the application, the DP’s name, DP ID Number and beneficiary account number of the applicant with the DP.
Units of the Schemes will be issued/repurchase and settled compulsorily in dematerialized form. Applications without relevant details of investor’s depository account are liable to be rejected.
Exchange Listing: Fund will be listed on National Stock Exchange of India Ltd. (NSE Ltd.)
Nifty Bank Index:
- Launch Date: Sep 15, 2003
- No. of Constituents: 12
- Index rebalancing: Semi-Annually