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₹112.9 -1.0  -0.8%

Last Trade - 07/05/21

Sector
Financials
Size
Mid Cap
Market Cap £1.25bn
Enterprise Value £2.74bn
Revenue £1.95bn
Position in Universe 249th / 3107

BUZZ-Indian bank stocks jump as top court rejects loan moratorium extension

Tue 23rd March, 2021 6:09am
** India's Nifty PSU bank index  .NIFTYPSU , which tracks
state-run banks, rises as much as 3.93% to its highest since
March 17
    ** India's top court rejected pleas seeking extension of
loan moratorium period, in a major relief to banks  urn:newsml:reuters.com:*:nI8N2HX017
    ** The PSU bank index is on track to see its best session in
nearly five weeks
    ** To help businesses cope with the fallout from the
COVID-19 pandemic the Reserve Bank of India had allowed lending
institutions to grant a moratorium on payment of installments of
term loans
    ** Indian banks were hoping that borrowers will not be given
further respite beyond the waiver on compound interest for loans
up to 20 million rupees for six months, which the government has
agreed to pay
    ** The Supreme Court on Tuesday said complete waiver of
interest during loan moratorium cannot be granted
    ** The Nifty Bank index  .NSEBANK , which tracks 12 large
capitalized stocks from the banking sector, rose as much as
2.07%.


($1 = 74.3050 Indian rupees)

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))
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