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Bank stocks down for second day on crop loan waiver concerns

Press Trust of India  |  New Delhi 

stocks, including and Federal Bank, continued to remain under pressure falling by up to 2 per cent today after the announced crop loan waiver.

of went down by 1.81 per cent, declined by 1.36 per cent, of dipped 1.36 per cent, lost 1.35 per cent and (0.83 per cent) on

The Bankex index plunged 28.29 points, or 0.11 per cent, to 26774.50 today.

fell by 0.71 per cent, (0.53 per cent), of (0.51 per cent) and of Baroda (0.06 per cent).

stocks had fallen up to 3 per cent in the previous session also.

Facing mounting pressure from farmers and opposition parties, the today announced crop loan waiver of up to Rs 50,000 per farmer, that will cost Rs 8,165 crore to the state exchequer.

has become the fourth state this year to take such step following Uttar Pradesh, and Punjab.

On Monday, Punjab had announced total waiver of crop loans up to Rs 2 lakh of small and marginal farmers, and a flat Rs 2 lakh relief for all marginal farmers, irrespective of the loan amount.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 21 2017. 19:32 IST