BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The government launched the ‘Bharat 22’ ETF managed by ICICI Prudential Mutual Fund, targeting an initial amount of about Rs8, 000 crore. What is the meaning of “T” in ETF?

A	Timing
B	Transaction
C	Traded
D	Treaty

Explanation:

Detailed explanation-1: -Fund Size: The BHARAT 22 ETF currently holds Assets under Management worth of Rs 9038.58 crore as on Sep 30, 2022. 4. Expense ratio: The expense ratio of the fund is 0.02% for Regular plan as on Sep 30, 2021.

Detailed explanation-2: -As of Feb 24, 2023 04:01 PM the closing price of Bharat 22 ETF was ₹ 57.99. What is the market cap of Bharat 22 ETF? Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding.

Detailed explanation-3: -About ICICI Prudential Mutual Fund-BHARAT 22 ETF The investment objective of the Scheme is to invest in constituents of the underlying Index in the same proportion as in the underlying Index, and endeavor to provide returns before expenses, which closely correspond to the total returns of the underlying Index.

Detailed explanation-4: -Taxation for this ETF will be like that of equity shares or equity mutual funds. AS per the prevalent tax laws, capital gains arising from investments held up to one year will be classified as STCG and will be taxed at 15%, plus surcharge and cess as applicable. LTCG will be tax exempt.

There is 1 question to complete.