New Delhi: Finance Minister Arun Jaitley on Friday announced the creation of a new exchange-traded fund (Bharat-22) comprising shares of 22 central public sector companies, state banks and some SUUTI.
Bharat-22 will cover six sectors, he told reporters here. It will include four bank shares – SBI, Axis Bank, Bank of Baroda and Indian Bank – other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India.
In addition, there will be nine other PSUs, as well as REC and PFC. SUUTI’s participation in ITC has also been included.
Ninety percent of the shares included are traded in futures. ICICI Prudential is the fund manager.
