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(Reuters) - Indian shares rose on Monday as banking stocks gained on hopes that the Reserve Bank of India's initiative directing lenders to start bankruptcy proceedings against large loan defaulters would help reduce the levels of bad debt hampering credit growth in the country.
The benchmark BSE Sensex rose 0.82 percent and posted a record close of 31,311.57, while the broader NSE Nifty ended up 0.72 percent at 9,657.55.
The Nifty Bank Index climbed 1.02 percent after touching a record high earlier in the session.
Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Gopakumar Warrier