India's state banks' index slides amid crude price surge, Maharashtra farm loan waiver

Bank of Maharashtra

09/03/2026 05:45

Updates

** India's public sector bank index .NIFTYPSU slides 5.2% to 8,700; benchmark Nifty 50 index .NSEI down 2.4%

** State-owned lenders drop on fears that higher crude prices could lift borrowing costs, push bond yields up and compress treasury gains - Antique Stockbroking

** Crude prices climbed to their highest in nearly four years on Middle East war O/R

** Maharashtra state government announces farm loan waiver of up to 200,000 rupees ($2,168.14) for farmers who had outstanding crop loans at Sept-end 2025

** Public sector bank are usually more vulnerable as they have higher agri non-performing loans than private banks - Macquarie

** Bank of Maharashtra BMBK.NS down 6.5%, top percentage loser on sub-index

** YTD, .NIFTYPSU up about 1.3%, .NSEI down nearly 9%

($1 = 92.2450 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))