Banks, financials tumble; RBL, AU Small Finance, IndusInd Bank dip over 14%

Nifty PSU Bank index tanked over 10-year low after falling 8 per cent in intra-day

Shares of banks and financial services companies declined up to 25 per cent on the National Stock Exchange (NSE) on Friday after the government placed YES Bank under moratorium and capped withdrawals for a month, while the Reserve Bank of India (RBI) superseded the private lender's board, citing a steady decline in its financial position.

The collateral damage on sentiment saw the Nifty PSU Bank index tank to an over 10-year low, falling 8 per cent in intra-day today. Nifty Bank index tumbled 5.7 per cent, followed by Nifty Private Bank index (5.6 per cent), and Nifty Financial Services