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The State Bank of India [Get Quote] said on Monday it would launch a gold exchange traded fund in 2008.
"We are examining this product in our mutual fund company and we are hopeful we should be able to come out with an ETF next year," O P Bhatt, SBI chairman said at a conference in Mumbai.
The state-run bank also plans to widen its gold coin distribution network to 1,000 branches from 100, he said.
It plans to open a bullion branch at Zaveri Bazar in Mumbai, the hub of India's gold trade.
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