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Baroda BNP Paribas Mutual Fund has launched the Baroda BNP Paribas NIFTY BANK ETF, an open-ended scheme replicating the performance of the Nifty Bank Total Returns index.
With this launch, the fund house aims to provide investors a cost-effective way to invest in the banking sector.
In a press release, Suresh Soni, the CEO of Baroda BNP Paribas AMC said that the banking sector plays a huge role in the India growth story. He said, “The pivotal Indian banking sector has shown robust growth and is well-placed to continue its upward trajectory as a leading sector for our economy."
The Nifty BANK index includes 12 largest banks listed on the NSE based on their market capitalization.
