Shares in public sector banks fell on concerns about liquidity in the banking system after the government set its target for gross market borrowing at Rs 6.29 trillion in 2013/14, above estimates of less than Rs 6 trillion.
Shares in public sector banks fell on concerns about liquidity in the banking system after the government set its target for gross market borrowing at Rs 6.29 trillion in 2013/14, above estimates of less than Rs 6 trillion.
The government also announced a capital infusion of Rs 140 billion for public sector banks, below market estimates for Rs 200 billion, dealers said.
State Bank of India slumped 5.4 per cent, Punjab National Bank is down 6.6 per cent and Bank of India fell 6 percent.
Private sector lenders also fall, with ICICI Bank down 3.5 per cent, after Finance Minister P Chidambaram proposed to extend a scheme that provides farmers with low cost loans to private banks.
Axis Bank is down 4.3 per cent while Yes Bank is 4.3 per cent lower.
Copyright @ Thomson Reuters 2013
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