To enable investors better track movement of Indian bonds, SBI in collaboration with FTSE Russell has launched a new series at the London Stock Exchange. The bank in a statement said that the new FTSE SBI Bond Index Series "demonstrates SBI's commitment to play befitting leadership role" in the growth of the Indian bond market.
"This index will act as a key benchmark for Indian debt for foreign investors looking to invest in Indian debt market," SBI chairman Arundhati Bhattacharya said in the statement.
The new index series will enable investors as well as market participants to better analyse thee Indian bond market. The launch of the new series has been enacted after the initiative was said to be given a priority under the under the India UK financial partnership (IUKFP), SBI said further.
"This index is also an important enabler of India-focused funds and is expected to facilitate investment flows," the bank said.