Business Daily from THE HINDU group of publications
Monday, November 19, 2007
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Business Daily from THE HINDU group of publications Monday, November 19, 2007 |
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News Update as at 18.00 hrs (IST)
Banking & Finance SBI plans gold ETF launch in 2008 MUMBAI: State Bank of India plans to launch a gold exchange traded fund (ETF) in 2008, its top official said on Monday. "We are examining this product in our mutual fund company and we are hopeful we should be able to come out with an ETF next year," Mr O P Bhatt, Chairman said at a conference. The state-run bank also plans to widen its gold coin distribution network to 1,000 branches from 100, he said. It also plans to open a bullion branch at Zaveri Bazar in Mumbai, the hub of India's gold trade.
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