Inflation puts bank stocks under pressure – Hindu Business Line- About: Stock Trading News
Though the index opened in the green on Friday, after an hour into the trading, the index started falling and when trading closed, it lost 143 points or 1. Among other banking stocks that took a beating today include Axis Bank, which fell 3. But on Friday, the banking index tanked mainly due to the Government’s announcement to increase the net amount of farm loan waiver, said analysts. Banks are not non-profit organisations and with this announcement, the banks now run the risk of an increase in the NPA figures. The banks that will be most impacted will be the PSU banks and those with larger portfolios,” said a banking analyst with a brokerage. Analysts say that until there is clarity regarding the reimbursements of the loan amount to the banks, there will be quite a bit of negativity around the banking stocks. read more
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