DebtBanking and PSU FundDirectIDCWLow to Moderate

Nippon India Banking and PSU Debt Fund

Q: What is the NAV of Nippon India Banking and PSU Debt Fund?

As of 01 Oct 2026, the NAV of Nippon India Banking and PSU Debt Fund is ₹10.74 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Nippon India Banking and PSU Debt Fund delivered?

Nippon India Banking and PSU Debt Fund has returned -0.37% over 1 year, +0.27% per year over 3 years, +0.23% per year over 5 years and +0.62% 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 Nippon India Banking and PSU Debt Fund?

Nippon India Banking and PSU Debt Fund charges an expense ratio of 0.39% 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 Nippon India Banking and PSU Debt Fund?

Nippon India Banking and PSU Debt Fund's largest holdings are 7.48% National Bank For Agriculture and Rural Development (3.5%), 7.68% National Bank For Agriculture and Rural Development (3.4%), Small Industries Dev Bank of India (3.4%), 7.59% National Housing Bank (2.5%) and 7.77% REC Limited (2.4%). Holdings are disclosed monthly and change over time.

Q: How risky is Nippon India Banking and PSU Debt Fund?

Nippon India Banking and PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.6% and its worst peak-to-trough fall in our sample was -4.3%. 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 -2.36 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Banking and PSU Debt Fund's -2.36 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of Nippon India Banking and PSU Debt Fund?

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

Q: Who manages Nippon India Banking and PSU Debt Fund?

Nippon India Banking and PSU Debt Fund is managed by Pranay Sinha and Vivek Sharma at Nippon India.

Q: How is Nippon India Banking and PSU Debt Fund taxed?

Nippon India Banking and 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.

Nippon India Mutual Fund · Best Banking & PSU Mutual Funds

NAV

₹10.74

-0.01% 1D

as of 01 Oct 2026

This is the Direct plan of Nippon India Banking and PSU Debt Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed monthly, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns (+7.05% 3Y CAGR)

NAV history

-0.25%CAGR

52-week rangePrev NAV ₹10.74

Latest ₹10.74

Low ₹10.6925th percentile of its 52-week rangeHigh ₹10.90

Scorecard

Not rated

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. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Banking and PSU Fund peers to rank yet

Risk—

Volatility 2.6% (no category average yet)

Cost—

0.4% expense (no category average yet)

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

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

0.39%

Category —

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

—

Category —

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

-2.36

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

CRISIL Banking and PSU Debt A-II Index

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.

18 May 2015

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.02%

Absolute return over the last 3 months (not annualized)

-0.85%

Absolute return over the last 6 months (not annualized)

+0.18%

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

-0.24%

Annualized returns (≥1Y — CAGR)

Definitions

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

-0.37%

3-year annualized return (CAGR)

+0.27%

5-year annualized return (CAGR)

+0.23%

10-year annualized return (CAGR)

+0.41%

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.

+0.62%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

2.64%

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

-2.36

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

-2.48

Largest peak-to-trough decline over full history

-4.35%

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	+0.02%	—	—
3M abs	-0.85%	—	—
6M abs	+0.18%	—	—
1Y CAGR	-0.37%	—	—
3Y CAGR	+0.27%	—	—
5Y CAGR	+0.23%	—	—

Category average across peers in Banking and PSU Fund, 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.

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

₹6.03L

Absolute

+0.42%

XIRR

+0.17%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Nippon India Banking and 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	-0.24%
2025	+0.35%
2024	+0.59%
2023	+0.22%
2022	+0.16%
2021	-0.15%
2020	+0.77%
2019	+1.41%
2018	+1.11%
2017	+0.15%

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

2,755

Expense ratio

0.39%

YTM (from holdings)

7.59%

Average maturity

3.05 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


Nippon India Banking and PSU Debt FundThis fund Nippon India · Direct · Monthly IDCW	—	-0.37%	+0.27%	+0.23%	—	0.39%	—
UTI Banking & PSU Debt Fund UTI · Direct · Discontinued · Flexi IDCW	—	+6.05%	+7.45%	+7.76%	—	—	—
UTI Banking & PSU Debt Fund UTI · Direct · Half-Yearly IDCW	—	+6.05%	+7.45%	+7.76%	—	0.24%	—
UTI Banking & PSU Debt Fund UTI · Direct · Discontinued · Quarterly IDCW	—	+6.05%	+7.45%	+7.55%	—	0.24%	—
LIC MF Banking & PSU Debt Fund LIC · Direct · Monthly IDCW	—	+5.05%	+7.25%	+6.28%	—	0.28%	—
SBI Banking & PSU Debt Fund SBI · Direct · IDCW	—	+5.00%	+7.12%	+6.14%	—	0.41%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt89.33%
Cash & Equivalents10.33%
Other0.34%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Small Industries Dev Bank of India

3.38%

Power Finance Corporation Limited

1.55%

Mahindra & Mahindra Financial Services Limited

1.45%

Tata Capital Limited

1.45%

Bank of Baroda

1.42%

Canara Bank

0.97%

Siddhivinayak Securitisation Trust

0.95%

Export Import Bank of India

0.95%

Shivshakti Securitisation Trust

0.94%

Indian Railway Finance Corporation Limited

0.58%

AMC Profile

Nippon India Mutual Fund is managed by Nippon Life India Asset Management, which took control of the former Reliance Mutual Fund in 2019 when Nippon Life of Japan bought out the Reliance Capital stake. It is among India's largest fund houses by assets and is best known for its small- and mid-cap franchise.

Launched

29 Jun 1995

Total AUM

₹7,87,053Cr+4.7% QoQ

Avg AUM · July - September 2026

Website

mf.nipponindiaim.com

Fund Managers

PSPranay SinhaManaging since 01 Mar 2021

Role

Senior Fund Manager - Fixed Income

Education

PGDM, IIM Calcutta B. Tech. (Hons.), IIT Kharagpur

Experience

Over 18 years of experience in Fixed Income Markets Nippon India ETF Nifty 8-13 yr G-Sec Long From March 30, 2021 onwards NAM India : Senior Fund Manager – Fixed Income September 2014 – March 2021 Aditya Birla Sunlife Mutual Fund : Fund Manager October 2010 – August 2014 BNP Paribas : IRFX Trader March 2008 – October 2010 Morgan Stanley Investment Management : Fixed Income Trader November 2005 – March 2008 ICICI Prudential AMC : Fixed Income & Credit Analyst

Funds managed (8)

All schemes Pranay Sinha runs →

VSVivek SharmaManaging since 01 Jun 2020

Role

Fund Manager – Fixed Income

Education

B.E (Electronics), PGDBM - Finance

Experience

Over 19 years of experience September 2016 - till date - Fund Manager September 2013 - September 2016 - NAM India: Asst.Fund Manager Managing investments for Debt Schemes February 22, 2010 - September 2013, NAM India, – Responsible for investment/ trading – Fixed Income. May 2007 – February 2010 NAM India, - Assistant Manager – Fixed Income. Responsible for Assisting Fund Managers in FMP/Open ended portfolio analysis & MIS related activities. June, 2006 to April 2007 NAM India, - Management Trainee – Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity Sales & Distribution. Responsible for 70:30 Index Fund Product support to corporate sales team across country.

Funds managed (15)

All schemes Vivek Sharma runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and 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

Pranay Sinha Vivek Sharma

Nippon India 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.

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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 Nippon India Banking and PSU Debt Fund?

As of 01 Oct 2026, the NAV of Nippon India Banking and PSU Debt Fund is ₹10.74 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Nippon India Banking and PSU Debt Fund delivered?

Nippon India Banking and PSU Debt Fund has returned -0.37% over 1 year, +0.27% per year over 3 years, +0.23% per year over 5 years and +0.62% 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 Nippon India Banking and PSU Debt Fund?

Nippon India Banking and PSU Debt Fund charges an expense ratio of 0.39% 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 Nippon India Banking and PSU Debt Fund?

Nippon India Banking and PSU Debt Fund's largest holdings are 7.48% National Bank For Agriculture and Rural Development (3.5%), 7.68% National Bank For Agriculture and Rural Development (3.4%), Small Industries Dev Bank of India (3.4%), 7.59% National Housing Bank (2.5%) and 7.77% REC Limited (2.4%). Holdings are disclosed monthly and change over time.

How risky is Nippon India Banking and PSU Debt Fund?

Nippon India Banking and PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.6% and its worst peak-to-trough fall in our sample was -4.3%. 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 -2.36 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Banking and PSU Debt Fund's -2.36 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of Nippon India Banking and PSU Debt Fund?

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

Who manages Nippon India Banking and PSU Debt Fund?

Nippon India Banking and PSU Debt Fund is managed by Pranay Sinha and Vivek Sharma at Nippon India.

How is Nippon India Banking and PSU Debt Fund taxed?

Nippon India Banking and 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.