 "BSE, NSE, Sensex, Nifty, Markets, Stock Market")
The S&P BSE Bankex index slid 6.7 per cent on Monday. The reason, experts say, is that not only have the announcements of the stimulus package by the finance minister failed to address economic growth concerns, but also the fear that bad loan pressure may rise for the banking sector.
Concerns over the recovery of loans to MSMEs (micro, medium and small enterprises), the suspension of Indian Bankruptcy Code (IBC) proceedings, and a few steps to boost overall credit offtake, among others, are key reasons why banking stocks saw heavy selling on Monday.
Since the start of the stimulus announcements on May
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