SBI's Nifty Bank Index: Shaping India's Banking Future

SBI Mutual Fund launches the SBI Nifty Bank Index Fund, allowing investments in major Indian banks. The fund's NFO runs from January 20 to 31, with a minimum investment of Rs 5,000. SVC Coop Bank unveils an Aadhaar-based Demat account service. Girish Johar joins Zee Studios as head of distribution.

SBI Mutual Fund has unveiled the SBI Nifty Bank Index Fund, a new open-ended scheme focusing on India's leading banks. The New Fund Offer will be available from January 20 to January 31, requiring a minimum investment of Rs 5,000, according to a company statement.

The SBI Nifty Bank Index Fund is designed to provide investors access to the country's most prominent and transformative banking institutions, stated Nand Kishore, MD & CEO of SBI Funds Management Ltd.

In another announcement, SVC Cooperative Bank introduced an Aadhaar-based digital Demat account service, while Girish Johar took on a key role at Zee Studios as the head of distribution and revenues.

(With inputs from agencies.)