Introducing Groww Nifty Private Bank Index Fund
The Groww Nifty Private Bank Index Fund aims to provide investors with a simple and transparent way to gain exposure to India’s private banking sector by tracking the Nifty Private Bank Index (TRI), subject to tracking error. Private banks have, over time, strengthened their position within India’s banking system through healthy growth in deposits, advances, and improved operational efficiency. With increasing participation in financial services and evolving credit demand, the sector continues to be an important part of India’s financial ecosystem.
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Why consider the Groww Nifty Private Bank Index Fund?
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About the Nifty Private Bank Index
The Nifty Private Bank Index is designed to reflect the performance of leading private sector banks in India.
Includes banks that are part of the Nifty 500 universe (with additional selection criteria if required), excluding banks with 50% or more government ownership
Requires a minimum trading frequency of 90% and a minimum listing history
Follows a free-float market capitalisation weighting methodology. Individual stock weight capped at 23%, with the top 3 capped at 62%
Rebalanced semi-annually in line with index methodology
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Why invest through an index fund structure?
Rule-based approach
Portfolio aligned to a predefined index methodology
Diversification
Exposure to multiple private banks through a single investment
Transparency
Clear visibility into holdings and allocation
Cost efficiency
Passive structure may result in relatively lower costs
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Who may consider this fund?
Seek long-term capital appreciation through exposure to private sector banks
Prefer a passive, index-based investment approach and are comfortable with equity market risks, including sector-specific concentration in banking.
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Groww Nifty Private Bank Index Fund NFO:
| Mutual Fund | Groww Mutual Fund |
| Scheme Name | Groww Nifty Private Bank Index Fund |
| Objective of Scheme | The investment objective of the Scheme is to generate long-term capital growth by investing in securities of the Nifty Private Bank Index in the same proportion/weightage with an aim to provide returns before expenses that track the total return of Nifty Private Bank Index, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved |
| Scheme Type | Open Ended |
| Scheme Category | Other Scheme – Index Funds |
| New Fund Launch Date | 06 May 2026 |
| New Fund Earliest Closure Date | 20 May 2026 |
| New Fund Offer Closure Date | 20 May 2026 |
| Indicate Load Separately | Nil |
| Minimum Subscription Amount | Rs 500 and in multiples of Re. 1/-thereafter |
| For Further Details Please Visit Website | https://www.growwmf.in |
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Groww Nifty Private Bank Index Fund NFO
Application Form
Scheme Documents
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Groww Nifty Private Bank Index Fund NFO Riskometer:
