SBI plans to launch FTSE-SBI India Bond Index

SBI Mutual Fund, the asset management subsidiary of SBI, intends to use the new index as the basis for a new investment product.

State Bank of India is planning to launch FTSE-SBI India Bond Index in association with FTSE TMX Global Debt Capital Markets, according to reports.

SBI Mutual Fund, the asset management subsidiary of SBI, intends to use the new index as the basis for a new investment product, the report added.

SBI Chairperson Arundhati Bhattacharya said, "We are delighted to be partnering with London Stock Exchange Group to create the FTSE SBI bond indices for India." 

The FTSE SBI Indian Bond indices will be a catalyst in the ongoing development, Bhattacharya says.