India launched Bharat 22 new ETF for disinvestment

Union Government has launched Bharat 22 for the fastening up the disinvestment,budgeted to raise a record Rs 72,500 crore in the fiscal year to March 2018. The ETF consists of 22 scrips including blue chips such as Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and State Bank of India (SBI) — all state-owned companies ,along with partial stakes in Axis Bank, ITC and Larsen & Toubro that it holds through the Specified Undertaking of the Unit Trust of India (SUUTI).