Shares of seven PSU bank stocks rose by 0.01% to 2.79% and shares of five private sector banks declined by 0.01% to 1.14% at 11:30 IST on BSE after the Reserve Bank of India after its monetary policy review kept the policy repo rate unchanged.
Meanwhile, the S&P BSE Sensex was down 51.34 points or 0.18% at 28,135.72.
Shares of most public sector banks rose. UCO Bank (up 0.09%), Syndicate Bank (up 0.01%), Punjab National Bank (up 0.03%), Bank of Baroda (up 0.46%), Canara Bank (up 1.65%), Bank of India (up 0.75%) and United Bank of India (up 2.79%) edged higher. Corporation Bank (down 3.02%), Allahabad Bank (down 0.59%), State Bank of India (SBI) (down 0.5%), and Union Bank of India (down 2.53%), declined.
Most shares of private sector banks declined. Axis Bank (down 0.16%), HDFC Bank (down 0.13%), ICICI Bank (down 0.58%), Federal Bank (down 0.01%), and IndusInd Bank (down 1.14%) edged lower. Kotak Mahindra Bank (up 0.32%) and Yes Bank (up 0.44%) gained.
The Reserve Bank of India (RBI) after its third bi-monthly monetary policy review today, 4 August 2015, kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 7.25%. The RBI has also kept cash reserve ratio (CRR) of scheduled banks unchanged at 4% of net demand and time liability (NDTL). Consequently, the reverse repo rate under the LAF will remain unchanged at 6.25%, and the marginal standing facility (MSF) rate and the bank rate at 8.25%.
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