SBI Mutual Fund on Friday said it has launched the SBI Nifty Bank Index Fund, an open-ended scheme on Nifty Bank Index and the scheme will open on January 20.
The New Fund Offer (NFO) period for the scheme will conclude on January 31. The minimum application amount required is Rs 5,000 and in multiples of Re 1 thereafter, the company said in a statement.
"The SBI Nifty Bank Index Fund provides investors with the opportunity to invest in the largest and most influential banks in India, which continue to lead and transform the nation’s banking sector," Nand Kishore, MD & CEO, SBI Funds Management Ltd, said.
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