December 7, 2017 / 6:46 AM / 8 months ago

BUZZ-India's banking stocks gain on cbank statement on recapitalisation

** Shares of state-run lenders rise on hopes that the government will soon announce details of more than $32 billion recapitalisation plan first outlined in October

** Reserve Bank of India (RBI) Governor Urjit Patel says working with government on recapitalisation details; says to be announced in coming days and recap bonds will be “front-loaded” for stronger banks

** Patel also says it will be a recap and reform package to ensure mistakes of past are not repeated

** RBI statement offers more clarity and transparency around the recapitalisation plan, analyst at domestic brokerage says

** Lower fees on debit card transactions announced on Wednesday also seen boosting digital transactions, helping banks reduce costs

** Nifty PSU Bank index rises as much as 1.63 pct; State Bank of India, Punjab National Bank gain over 1.5 pct each

** Nifty PSU bank index, up 26 pct in 2017, looks set for third session of gains in eight

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