 "Provisional: Markets end lower weighed down by financials")
Markets ended lower on Wednesday amid a sell-off in bank shares after the Reserve Bank of India late Tuesday imposed fresh restrictions on commercial banks' access to cash.
The Sensex ended down 186 points at 20,116 and the Nifty slipped 86 points to close at 5,992 .
On Tuesday, the RBI has capped the total quantum of funds available under liquidity adjustment facility (LAF) to 0.5% (lowered from 1%) of individual bank’s net deposits and time liabilities (NDTL), which would be effective from July 24, 2013.
The earlier imposed cap on overall allocation of funds at Rs 75,000 crore under LAF stands withdrawn. It has also increased the requirement of minimum daily cash reserve ratio (CRR) maintenance to 99% from 70%, which would be effective from first day of fortnight beginning July 27, 2013.