Ten bank stocks rose 0.39% to 1.62% at 14:40 IST on BSE after Moody's reportedly said today, 8 September 2014 that the changes in the rules for raising Basel III-compliant capital announced by RBI this month are "credit positive".
HDFC Bank (up 1.33%), Canara Bank (up 1.62%), State Bank of India (up 1.26%), ICICI Bank (up 0.91%), IndusInd Bank (up 1.08%), Punjab National Bank (up 0.99%), Axis Bank (up 0.47%), Bank of Baroda (up 0.51%), Federal Bank (up 0.56%), and Yes Bank (0.39%) gained.
Meanwhile, the S&P BSE Sensex was up 204.31 points or 0.76% at 27,231.01.
Moody's reportedly said today, 8 September 2014 that the changes in the rules for raising Basel III-compliant capital announced by the Reserve Bank of India (RBI) this month are "credit positive" as they make it easier for banks to raise funds and attract more investors.
The RBI on 1 September cut the minimum maturity for Tier 2 capital that banks can issue to five years from 10 years. It also allowed retail investors to buy Tier 1 capital.
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