Bank shares fall on budget disappointment

Thu Feb 28, 2013 4:39pm IST

A cashier (L) counts currency notes as customers wait inside a bank in Hyderabad March 22, 2010. REUTERS/Krishnendu Halder/Files

A cashier (L) counts currency notes as customers wait inside a bank in Hyderabad March 22, 2010.

Credit: Reuters/Krishnendu Halder/Files

Related Topics

Stocks

   

Reuters Market Eye - Shares in public sector banks fall on concerns about liquidity in the banking system after the government set its target for gross market borrowing at 6.29 trillion rupees in 2013/14, above estimates of less than 6 trillion rupees.

The government also announced a capital infusion of 140 billion rupees for public sector banks, below market estimates for 200 billion rupees, dealers said.

State Bank of India fell 6 percent, Punjab National Bank (PNBK.NS) fell 5.5 percent and Bank of India (BOI.NS) falls 5.7 percent.

Private sector lenders also fall, with ICICI Bank (ICBK.NS) losing almost 4 percent, after Finance Minister P. Chidambaram proposed to extend a scheme that provides farmers with low cost loans to private banks.

Axis Bank (AXBK.NS) fell 4 percent while Yes Bank (YESB.NS) lost 3.8 percent.

(Reporting by Manoj Dharra)

FILED UNDER:

Reuters Showcase

IS Claim

IS Claim

Islamic State says beheads second Japanese hostage.  Full Article 

Ukraine Crisis

Ukraine Crisis

Death toll mounts in Ukraine fighting after peace talks fail.  Full Article 

Fifth Title

Fifth Title

Djokovic reigns supreme at Australian Open.  Full Article 

Journalist Freed

Journalist Freed

Jailed Al Jazeera journalist Peter Greste leaves Egypt for Australia.  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut.  Full Article 

Doubles Title

Doubles Title

Hingis wins Australian Open mixed doubles title with Paes.  Full Article 

Houston's Daughter

Houston's Daughter

Bobbi Kristina Brown revived after found unresponsive in tub  Full Article 

Supply Glut

Supply Glut

Sugar mills seek govt help to dispose of supply surplus.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage