Discussion
With reference to 'Bharat 22', which of the following statements is/are correct ?
1. It is the Exchange Traded Fund (ETF).
2. It is an unmarketable security.
3. This aimed at helping speed up the government's disinvestment programme.
Select the correct answer using the code given below :
Answer: B
Statements 1 and 3 are correct, so the answer is 1 and 3 only.
Bharat 22 is an exchange traded fund launched in November 2017 and managed by ICICI Prudential Mutual Fund (1). It holds shares in 22 companies, a mix of central public sector enterprises, public sector banks and the government's strategic holdings in companies such as ITC, Axis Bank and L&T. By selling its stakes into the fund, the government raised money quickly, so the ETF was designed to speed up its disinvestment programme (3).
Statement 2 is false: ETF units are listed and traded on stock exchanges like shares, so Bharat 22 is a marketable security. Any option containing 2 is wrong.
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