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Notice Board

Question:Which of the below is/are correct?

a) Bharat 22 is aimed at helping speed up the government's disinvestment programme.

b) The Bharat 22 Index will be rebalanced quarterly.

c) Both a and b

d) Neither a nor b

Check Answer:

Answer: Both a and b

• The Union Finance Minister Shri Arun Jaitley announced a new Exchange Traded Fund (ETF) by the name BHARAT 22. • Bharat 22 consists of 22 stocks of CPSE's, PSB's & strategic holding of SUUTI . • Compared to energy heavy CPSE ETF, Bharat 22 is a well diversified portfolio with 6 sectors (Basic Materials, Energy, Finance, FMCG, Industrials & Utilities). • The Bharat 22 Index will be rebalanced annually. ICICI Prudential AMC will be the ETF Manager and Asia Index Private Limited (JV BSE and S& P Global) will be the Index Provider. • In the Budget Speech of 2017-18, the Finance Minister Shri Arun Jaitley had promised to use ETF as a vehicle for further disinvestment of shares. • The target for CPSE’s disinvestment in 2017-18 was set at INR 72,500 crore. During the current Financial Year 2017-18, the Government has realised approx INR 9,300 crore through nine disinvestment transactions so far. •