Groww Mutual Fund launches ETF tracking Nifty Private Bank TRI
Groww Mutual Fund just rolled out a new ETF that tracks the Nifty Private Bank Index - Total Return Index (TRI).
The fund is open for investment from May 6 to May 20, and it's all about giving you easy access to India's top private banks through a simple, passive strategy.
NFO accepts ₹500 no exit load
This index features 10 major private-sector banks, including big names like HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank.
You can start investing with as little as ₹500 during the NFO period, and there's no exit load if you decide to cash out.
Over the last decade, private banks in this index have really grown their share of deposits, and over the past five years, deposits and advances have grown, making this ETF an interesting option if you're curious about the financial sector.