PSU Bank Benchmark Exchange Traded Scheme (PSU Bank BEES), an open-ended scheme which is an Index tracking the CNX PSU Bank Index, made its debut on the NSE on on 01 Nov 2007.
The PSU banks linked to the index include Andhra Bank, Bank of Baroda, Canara Bank, SBI, IDBI, Union Bank of India etc. The objective of this scheme is to provide returns that closely correspond to the total returns of securities as represented by the CNX PSU Bank Index.