The Nifty Bank index declined 0.7% as against the 0.5% decline in the benchmark Nifty. Equitas Small Finance, AU Small Finance, Bank of Maharashtra, and Bank of India fell between 2% and 5%. Kotak Mahindra, Bandhan, Indian Overseas Bank, Canara Bank and Union Bank declined nearly 1.5% each.
"Hiking the CRR would have had monetary policy connotations, so the temporary increase is aimed to be a non-disruptive way of dealing with the issue of excess liquidity in the system in the backdrop of the recent demonetisation of the Rs 2,000 notes," Aurodeep Nandi, India Economist and Vice President at Nomura, said.
At present, RBI Floating Rate Savings Bond (FRSB) 2020 (Taxable) offers an interest rate of 8.05 per cent. Is it time to hop on the high-interest bus to get some good returns from RBI Floating Rate Savings Bond (FRSB) 2020 (Taxable)? Let s understand how it works and who should invest in these bonds.
The Finance Bill 2023 with 64 official amendments, including the one that seeks withdrawal of long-term tax benefits on certain categories of debt mutual funds, was passed today