Index roundup: Asia Index Private launches new benchmark of private banks in India
Asia Index Private, a joint venture between S&P Dow Jones Indices and BSE (Bombay Stock Exchange), has launched the S&P BSE Private Banks Index. The new benchmark tracks the performance of banks that are not owned by the Indian government. 'As the private sector develops and evolves, there is a growing market demand for suitable benchmark,' said Alka Banerjee, CEO of Asia Index Private, in a statement. Constituents of the index are derived from the S&P BSE Finance Index and should meet the liquidity requirement as defined in the index methodology. With the launch, the Indian index provider hopes to offer market participants with a transparent and rules-based benchmark for private banks listed in the country.
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