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PCA rejig hope: Nifty PSU Bank index up 8 %; OBC, Canara Bank rally 13%

SBI, Bank of India, Indian Bank, Union Bank, Oriental Bank of Commerce, Bank of India, Union Bank of India, Punjab National Bank, Bank of Baroda and Syndicate Bank were up in the range of 6% to 12%.

PCA shadow on PNB, Canara, Union Bank; DFS to meet 11 executives today
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SI Reporter Mumbai
Shares of public sector undertaking (PSU) banks were in focus on Monday, with Nifty PSU Bank index surging 8%, its sharpest single day rally in past one year, on the National Stock Exchange (NSE). 

The up move came after a media report suggest that the government expects some changes in the prompt corrective action (PCA) framework prescribed by the Reserve Bank of India (RBI) to enable more sanction of credit by PSU banks.

State Bank of India (SBI), Bank of India, Indian Bank, Canara Bank, Oriental Bank of Commerce, Bank of India, Union Bank of India, Punjab National

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First Published: Oct 29 2018 | 12:51 PM IST

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