Bank shares were mixed at 11:15 IST on BSE after the Reserve Bank of India kept key rates unchanged in its monetary policy review today, 7 April 2015.
Among private sector banks, ICICI Bank (down 0.75%), Axis Bank (down 0.62%), IndusInd Bank (down 0.57%), Kotak Mahindra Bank (down 0.31%), Yes Bank (down 0.17%) and HDFC Bank (down 0.06%), edged lower. ING Vysya Bank (up 0.16%), Federal Bank (up 0.80%) and City Union Bank (up 0.83%), edged higher.
Among public sector banks, Central Bank of India (down 1.33%), Canara Bank (down 1.25%), Union Bank of India (down 0.91%), State Bank of India (down 0.78%), United Bank of India (down 0.68%), Bank of India (down 0.51%), Punjab National Bank (down 0.27%), Bank of Baroda (down 0.18%), Vijaya Bank (down 0.11%) and Andhra Bank (down 0.06%), edged lower. IDBI Bank (up 0.14%), UCO Bank (up 0.23%), Punjab and Sind Bank (up 0.31%), Syndicate Bank (up 0.34%), Allahabad Bank (up 0.45%), Bank of Maharashtra (up 0.66%), Dena Bank (up 0.68%), Corporation Bank (up 0.72%) and Indian Bank (up 0.94%), edged higher.
The BSE Bankex was down 0.80% at 21,187.79, off from the day's high of 21,441.04. It underperformed the Sensex, which was down 0.38% at 28,395.08.
The Reserve Bank of India (RBI) in its policy review today, 7 April 2015, kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 7.5%. Consequently, the reverse repo rate under the LAF will remain unchanged at 6.5%, and the marginal standing facility (MSF) rate and the Bank Rate at 8.5%.
RBI also kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4% of net demand and time liability (NDTL) and continued to provide liquidity under overnight repos at 0.25% of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75 per cent of NDTL of the banking system through auctions and continued with daily variable rate repos and reverse repos to smooth liquidity.
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