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SBI hits new high as PSU banks gain; Canara Bank, Bank of India up over 4%

Corporation Bank, United Bank of India, Uco Bank, Central Bank of India, Union Bank of India, Bank of India, Canara Bank and Indian Overseas Bank were up in the range of 6 to 8 per cent.

Banks, NPA, IBC
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SI Reporter Mumbai
Shares of public sector undertaking (PSU) banks rallied by up to 12 on the National Stock Exchange (NSE) in intra-day trade on Friday after the Reserve Bank of India (RBI) said that bad loans cycle seems to have turned around as bulk of the legacy non-performing assets (NPAs) have already been recognized in the banking books.

Corporation Bank, United Bank of India, Uco Bank, Central Bank of India, Union Bank of India, Bank of India, Canara Bank and Indian Overseas Bank were up in the range of 6 to 8 per cent while Punjab National Bank, Oriental Bank of Commerce,

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First Published: Jun 28 2019 | 12:35 PM IST

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