State Bank of India Has launched SBI composite Index that will help the bank to track the manufacture activity in the country. The CMD of the bank stated that the index will analyze data from both manufacturing and services industries to determine expansion or contraction in the economy.
SBI is the leading bank with a huge network in the country. This index will help the market participants, policy makers. SBI will publish the indicator on a monthly basis. This indicator will track two months in advance the possible trends in official estimates.