New Document top_band
 
Business Standard

Bank Nifty hits 3-month low, down 3%

SBI, ICICI Bank, PNB, Axis Bank and BoB are down by 4-6%

Read more on:    Sbi | Rbi | Bank Nifty
Related News

Banking stocks are under pressure for the second day in a row after the Reserve Bank of India () released the final guidelines regarding the Basel-3 norms on May 2.

The banks will have also to achieve a minimum Core Equity Tier-I capital adequacy (CET1) of 5% by FY2014, which in a staggered manner will then have to be increased to 8% by FY2018.

The , which tracks the movement of banking shares, hits three-month low is down by 3% at 9,835 points, compared with less than 2% fall in the benchmark index Nifty in late noon trades. In past two trading days, the bank Nifty lost 472 points.

Among the individual stocks State Bank of India, ICICI Bank, Punjab National Bank, Axis Bank and Bank of Baroda are trading lower by 4-6% on the National Stock Exchange (NSE).

“The immediate impact is restricted to few smaller banks. However, in the medium-term the Basel 3 guidelines imply significant capital shortage for the Indian Banking system,” Angel Broking said in a recent report.

By the end of FY2018, as the minimum CET1 requirement itself moves to 8%, the research firm is believe most of the banks would look to maintain closer to 9-10% CET1 capital adequacy.

Read more on:   
|
|

Read More

Agri Min proposes Rs 170/quintal hike in paddy MSP

In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...

Quick Links

 

Market News

Those who took the plunge when others were fearful

Between June 2013 and June 2014, the promoter holding of both firms has remained constant, at 45.63% for FTIL and 26% for MCX

Only in India, tech on top of m-cap charts

India is the only country in the Brics pack to have a technology firm as the largest public company. China and Russia have energy companies at ...

Tech provider be neutral of commex ownership: FMC

Regulator mulling no entity with significant shareholding be allowed to be tech provider

Slowdown likely for diamond processors

Global rough diamond miner De Beers forecasts a slowdown in sales, Indian companies toface the heat

Indian setback helping global iron ore miners

India, very rich in iron ore, is becoming a major importer of the steel-making ingredient

Back to Top