What are the key benefits of SBI Credit Cards?

SBI Credit Cards offer a wide range of benefits, including rewards, cashback, lounge access, discounts, and insurance coverage.

How can I apply for an SBI Credit Card?

You can apply for an SBI Credit Card online through the Paisabazaar platform, where you can compare card options and check for pre-approved offers.

What factors should I consider when choosing an SBI Credit Card?

Consider your spending habits, lifestyle, and financial goals to select a card that best suits your needs, such as travel, shopping, or rewards.

How can I manage my SBI Credit Card efficiently?

SBI Card offers a user-friendly mobile app and online banking services to help you manage your card, check statements, make payments, and access additional features.

What precautions should I take to avoid accumulating credit card debt?

Responsible credit card usage includes paying bills on time, managing credit limits wisely, and avoiding unnecessary spending to prevent debt accumulation.

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Want to Achieve any of the below
Goals upto 80% faster?

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Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

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1st Crore

Trusted by 3 Crore+ Indians

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FinNifty Index: Everything You Need to Know

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FinNifty Index: Everything You Need to Know

Mar 20, 2024

15 Mins

Introduction:

The FinNifty index, which falls under the umbrella of the Nifty Financial Services Index, provides insights into the performance of India's financial sector. This includes banks, non-banking finance companies, housing finance companies, insurers, asset management companies, credit card companies, and other financial services entities. Comprised of 20 stocks listed on the National Stock Exchange (NSE), FinNifty was introduced in September 2011 with a base date of January 1, 2004. Importantly, this index, like its counterparts, is rebalanced every six months, with the cut-off dates for rebalancing set as January 31 and July 31 of each year.

To be eligible for inclusion in the FinNifty Index, financial services companies must be part of the Nifty 500 universe. Additionally, no single stock can account for more than 33% of the index, and the cumulative weightage of the top three stocks should not exceed 62% during rebalancing. Noteworthy constituents of the FinNifty Index include HDFC Bank, India's largest private bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, State Bank of India, Bajaj Finserv, Bajaj Finance, HDFC Life, SBI Life, and Shriram Finance.

In January 2021, the NSE introduced futures and options (F&O) contracts for the Nifty Financial Services Index, with FinNifty as the underlying index for these derivatives. Settlement for these derivatives occurs on the last Tuesday of the expiry period, unless it falls on a trading holiday, in which case the previous trading day becomes the expiry day. Moreover, FinNifty Index Options have both weekly and monthly expiries, while FinNifty Index Futures are settled on a monthly basis. It is worth noting that the current lot size for FinNifty is 40.