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SBI Mutual Fund has launched SBI Nifty Bank Index Fund, an open-ended scheme replicating/ tracking Nifty Bank Index. The NFO opens for subscription on January 20, 2025 and closes on January 31, 2025. No Entry Load shall be charged for the scheme. The Exit Load will be 0.25% - for exit on or before 15 days from the date of allotment and Nil -for exit after 15 days from the date of allotment. The minimum subscription amount is Rs 5,000/- and in multiples of Re.1 thereafter.

The performance of the scheme will be benchmarked at Nifty Bank TRI and its fund manager is Harsh Sethi.

The investment objective of the scheme is to provide returns that correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.