DebtBanking and PSU FundRegularGrowthLow to Moderate

Franklin India Banking & PSU Debt Fund

Q: What is the NAV of Franklin India Banking & PSU Debt Fund?

As of 05 Oct 2026, the NAV of Franklin India Banking & PSU Debt Fund is ₹24.18 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Franklin India Banking & PSU Debt Fund delivered?

Franklin India Banking & PSU Debt Fund has returned +5.74% over 1 year, +7.13% per year over 3 years, +6.14% per year over 5 years and +7.35% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund charges an expense ratio of 0.49% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund's largest holdings are 7.66% Maharashtra SDL (04-Mar-2047) (5.7%), 7.56% India Infrastructure Finance Co Ltd (20-Mar-2028) (5.5%), 7.70% National Bank For Agriculture & Rural Development (30-Sep-2027) (4.7%), 7.65% Axis Bank Ltd (30-Jan-2027) (4.6%) and Mahindra & Mahindra Financial Services Ltd (3M Tbill + 210bps) (18-May-2029) (4.5%). Holdings are disclosed monthly and change over time.

Q: How risky is Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -3.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.63 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Franklin India Banking & PSU Debt Fund's 0.63 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund is benchmarked against the Nifty Banking & PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.

Q: Who manages Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund is managed by Sandeep Manam, Anuj Tagra and Chandni Gupta at Franklin Templeton.

Q: How is Franklin India Banking & PSU Debt Fund taxed?

Franklin India Banking & PSU Debt Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

Franklin Templeton Mutual Fund · Best Banking & PSU Mutual Funds

NAV

₹24.18

+0.08% 1D

as of 05 Oct 2026

This is the Regular plan of Franklin India Banking & PSU Debt Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

Compare SIP calculator

NAV history

+5.71%absolute

52-week rangePrev NAV ₹24.16

Latest ₹24.18

Low ₹22.88100th percentile of its 52-week rangeHigh ₹24.18

Scorecard

★★★★☆4/5 vs 19 Banking and PSU Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Banking and PSU Fund (same plan and option).

PerformanceStrong

3Y CAGR +7.13% · ranks 2 of 19 Banking and PSU Funds

RiskModerate

Volatility 1.0% vs 1.1% category avg

CostLow

0.5% expense vs 0.7% category avg

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Ahead of the Banking and PSU Fund average on 3M/6M/1Y — 1Y by 1.32pp
Ranks #1 of 20 on 1-year return in its Banking and PSU Fund cohort
Stronger risk-adjusted returns — Sharpe 0.63 vs 0.13 Banking and PSU Fund average
Low expense ratio (0.49%) vs the Banking and PSU Fund average of 0.69%
Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.49%

Category 0.69%▼0.20%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

0.63

Category 0.13▲0.50

Scheme Info

Definitions

Plan

Regular · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

Nifty Banking & PSU Debt Index A-II

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

25 Apr 2014

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

+0.21%

Absolute return over the last 3 months (not annualized)

+1.16%

Absolute return over the last 6 months (not annualized)

+3.81%

Absolute return since 1 Jan of this year (not annualized)

+4.25%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+5.74%

3-year annualized return (CAGR)

+7.13%

5-year annualized return (CAGR)

+6.14%

10-year annualized return (CAGR)

+6.85%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+7.35%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.99%

Excess return per unit of total volatility (rf = 6.5%)

0.63

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.94

Largest peak-to-trough decline over full history

-3.65%

Benchmark ratios

Not shown for Banking and PSU Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Banking and PSU Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.21%	-0.03%	+0.24%
3M abs	+1.16%	+0.37%	+0.79%
6M abs	+3.81%	+3.12%	+0.69%
1Y CAGR	+5.74%	+4.42%	+1.32%
3Y CAGR	+7.13%	+6.63%	+0.50%
5Y CAGR	+6.14%	+5.89%	+0.25%

Category average across peers in Banking and PSU Fund (up to 19 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 19 peers in Banking and PSU Fund

1Y return🏆

+5.74%

Beats 100% · rank #1

3Y return

+7.13%

Beats 94.4% · rank #2

5Y return

+6.14%

Beats 87.5% · rank #3

Sharpe

0.63

Beats 94.4% · rank #2

Sortino

0.94

Beats 94.4% · rank #2

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.08L

Absolute

+18.08%

XIRR

+6.79%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Franklin India Banking & PSU Debt Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	+4.25%
2025	+7.92%
2024	+7.70%
2023	+6.84%
2022	+3.27%
2021	+3.69%
2020	+9.13%
2019	+11.20%
2018	+6.86%
2017	+6.34%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

3,006

Expense ratio

0.49%

AUM

₹1.11Cr

YTM (from holdings)

7.20%

Average maturity

2.96 years

Exit load

Nil

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Banking and PSU Fund

Compare all


Franklin India Banking & PSU Debt FundThis fund Franklin Templeton · Regular · Growth	★★★★☆	+5.74%	+7.13%	+6.14%	—	0.49%	₹1.11Cr
UTI Banking & PSU Debt Fund UTI · Regular · Growth	★★★★★	+5.73%	+7.16%	+7.50%	—	0.47%	—
Sundaram Banking and PSU Debt Fund Sundaram · Regular · Growth	★★★★★	+4.56%	+6.85%	+5.88%	—	0.42%	—
Kotak Banking and PSU Debt Fund Kotak Mahindra · Regular · Growth	★★★★☆	+4.77%	+6.84%	+5.99%	—	0.75%	₹5,070Cr
Bandhan Banking and PSU Debt Fund Bandhan · Regular · Growth	★★★★☆	+5.21%	+6.79%	+5.97%	—	0.68%	—
ICICI Prudential Banking and PSU Debt Fund ICICI Prudential · Regular · Growth	★★★★☆	+4.89%	+6.78%	+6.23%	—	0.74%	₹8,974Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt98.54%
Cash & Equivalents1.46%

Cash & cash-like: 4.49% — the 1.46% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

HDFC Bank Ltd (19-Nov-2026)

4.35%

Indian Bank (04-Dec-2026)

4.34%

Small Industries Development Bank of India (04-Dec-2026)

4.34%

Bank of Baroda (06-Jan-2027)

4.31%

Kotak Mahindra Bank Ltd (08-Jan-2027)

4.31%

ICICI Bank Ltd (27-Jan-2027)

4.29%

Small Industries Development Bank of India (11-Jun-2027)

4.17%

HDFC Bank Ltd (22-Jan-2027)

3.44%

National Bank For Agriculture & Rural Development (22-Jan-2027)

3.44%

Union Bank of India (12-Mar-2027)

3.41%

Fund size over time

Quarterly average AUM · AMFI

₹1.11Cr

April - June 2026

-100%

since January - March 2026

Down +100% from its peak of ₹479.47Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

AMC Profile

Franklin Templeton Mutual Fund is the Indian arm of Franklin Resources, the US manager, and has operated here since 1996. In April 2020 it wound up six of its Indian debt schemes — the largest such closure the industry has seen — and returned the money to unitholders over the following years.

Launched

18 Feb 1996

Total AUM

₹1,26,017Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

franklintempletonindia.com

Fund Managers

SMSandeep ManamStart date not disclosed

Role

VP & Senior Research Analyst

Education

PGDM- IIM- Ahmedabad B.Tech (Electronics & (based at Chennai) Franklin Equity Team and also the Engg.)- National Institute of Technology Calicut

Experience

He is responsible for researching investment opportunities in automotive and airline sectors. Prior Assignments: Cognizant Technology Solutions (April 2014- July 2015) He was supporting UBS lead analyst in covering Indian Auto, Auto component sectors. Also supported coverage of Indian Pharma companies. Shapoorji Pallonji & Company Private Limited (April 2011- March 2014) He was responsible for supporting the Group’s Head (Strategy) in driving strategy at the group and company level..

Funds managed (20)

All schemes Sandeep Manam runs →

ATAnuj TagraStart date not disclosed

Role

Vice President- Portfolio Manager, Fixed Income

Education

BBA (Finance) MBA (Capital Markets) PGeMBA – Mumbai Education Trust (Finance) Master’s in commerce – RA Podar College, Mumbai University Bachelor’s in management studies – VES College, Mumbai University.

Experience

Vice President & Income • ICICI Prudential Asset Management Company Ltd. - AVP-Fund Manager, Fixed Income (Feb 2013 - Feb 2024). • Union Bank of India – Trader - GILTS & OIS (Jun 2009 – Feb 2013) • Fidelity International- CSA – New Accounts, Associate (Jan 2005 – May 2007) AVP & Senior Research Analyst

Funds managed (15)

All schemes Anuj Tagra runs →

CGChandni GuptaStart date not disclosed

Role

Vice President- Portfolio Manager, Fixed Income

Education

CFA Program, CFA institute USA

Experience

Vice President- Portfolio Manager, Fixed Income (based in Mumbai). She is responsible for Portfolio Management -Fixed Income. Prior Assignments (Last 10 years) ICICI Prudential Mutual Fund- AVP-Fund Manager, Fixed Income - October 2012-February 2024. Chief Investment Officer – Fixed Income (based at Mumbai). He is responsible for overseeing Fixed Income Fund Management. With effect from August 1, 2023. Prior assignments: • ICICI Prudential Asset Management Co. Ltd - Chief Investment Officer- Fixed Income - September 2012 to July 2023 • Standard Chartered Bank – Head Primary Dealer – November 2009 to September 2012. • ICICI Prudential Asset Management Co. Ltd - Senior Fund Manager – July 2004 to November 2009. • Franklin Templeton Asset Management Co. (I) Pvt. Ltd - Asst. Vice President – Fixed Income - October 2002 to July 2004. Vice President- Portfolio Manager, Fixed Income (based in Mumbai).

Funds managed (12)

All schemes Chandni Gupta runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Sandeep Manam Anuj Tagra Chandni Gupta

Franklin Templeton in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

Run SIP calculator Add to compare

Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Banking & PSU funds

Banking and PSU funds must keep at least 80% in the debt of banks, public sector undertakings, public financial institutions and municipal bonds. That issuer restriction is the category: it targets high-rated, quasi-sovereign borrowers, so credit risk is low and the main risk left is interest rates.

Frequently asked questions

What is the NAV of Franklin India Banking & PSU Debt Fund?

As of 05 Oct 2026, the NAV of Franklin India Banking & PSU Debt Fund is ₹24.18 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Franklin India Banking & PSU Debt Fund delivered?

Franklin India Banking & PSU Debt Fund has returned +5.74% over 1 year, +7.13% per year over 3 years, +6.14% per year over 5 years and +7.35% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund charges an expense ratio of 0.49% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund's largest holdings are 7.66% Maharashtra SDL (04-Mar-2047) (5.7%), 7.56% India Infrastructure Finance Co Ltd (20-Mar-2028) (5.5%), 7.70% National Bank For Agriculture & Rural Development (30-Sep-2027) (4.7%), 7.65% Axis Bank Ltd (30-Jan-2027) (4.6%) and Mahindra & Mahindra Financial Services Ltd (3M Tbill + 210bps) (18-May-2029) (4.5%). Holdings are disclosed monthly and change over time.

How risky is Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -3.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.63 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Franklin India Banking & PSU Debt Fund's 0.63 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund is benchmarked against the Nifty Banking & PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.

Who manages Franklin India Banking & PSU Debt Fund?

Franklin India Banking & PSU Debt Fund is managed by Sandeep Manam, Anuj Tagra and Chandni Gupta at Franklin Templeton.

How is Franklin India Banking & PSU Debt Fund taxed?

Franklin India Banking & PSU Debt Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.