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Bank stocks rise on RBI move, industry welcomes measures

Bank stocks rise on RBI move, industry welcomes measures Updated: Updated: Steps to expand RBI balance sheet needed, welcome: Kotak Share Article Steps to expand RBI balance sheet needed, welcome: Kotak Bank stocks gained on Wednesday after the RBI unveiled measures to support the economy facing headwinds due to the second wave of the pandemic. Kotak Mahindra Bank jumped 2.42%, Axis Bank 2.41%, Indusind Bank 2.33%, ICICI Bank 1.88%, State Bank of India 1.07% and HDFC Bank 1%on the BSE. The BSE Bank index gained 1.67%. The 30-share BSE index also gained 424.04 points or 0.88 per cent to close at 48,677.55. On RBI’s measures, Uday Kotal, president, Confederation of Indian Industry said governor Shaktikanta Das had taken the financial sector battle against Covid 2.0 ‘head-on with a clear focus on protecting lives and livelihoods’.

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