FTSE SBI Bond Index: India's first bond index series launched by SBI
State Bank of India (SBI) along with FTSE Russell, global index and data provider launched FTSE SBI Bond Index series at London Stock Exchange (LSE). It is India’s first bond index series for overseas investors.
It launch follows November 2015 visit of Prime Minister Narendra Modi in UK when letter of intent was signed between SBI and FTSE to jointly develop new index tracking Indian fixed income securities.
FTSE SBI Bond Index Series
FTSE SBI Bond Index is positioned as first-of-its-kind transparent and reliable benchmark for investors in international markets to analyse India’s government bond market. It will significantly contribute to development and broadening of Indian bond market. It demonstrates SBI’s commitment to play befitting leadership role in development of India’s bond market.
Background
Indian government bond market is worth around $1.7 trillion. Prior to launch of FTSE SBI Bond Index, the bond market was not having any reliable international indices on which international investors can invest in the country. Investors are eager to invest in India, but lacked enough depth in terms of the various types of bond products.
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Month: Current Affairs - September, 2017