Financials in focus post RBI policy; SBI, BoB, Canara Bank up over 2%

Indiabulls Housing Finance, Shriram Transport Finance, LIC Housing Finance, L&T Finance Holdings, RBL Bank and PNB Housing Finance were up in the range of 4 per cent to 9 per cent on the NSE

Shares of financials, including banks and non-banking finance companies (NBFCs), bounced back from day’s low on Thursday after the RBI's monetary policy committee (MPC) decision.

The Reserve Bank of India kept the repo rate unchanged at 5.15 per cent in its last policy review of the financial year 2019-20 (FY20). The MPC maintained the ‘accommodative’ stance, citing the lingering growth concerns and ensuring inflation remains within target.

The central bank also announced that the cash reserve ratio (CRR) will fall for every incremental loan given and CRR leeway on new consumer loans will be applicable till July 31.