PSU banks trade firm ahead of RBI policy decision

At 11:11 am; Nifty PSU Bank index, the largest gainer among sectoral indices, was up 1.5% as compared to less than 1% rise in Nifty Bank, Nifty Private Bank and the benchmark Nifty 50 index.

Shares of public sector undertaking (PSU) banks were trading higher by up to 7% on the National Stock Exchange (NSE) ahead of the Reserve Bank of India (RBI) monetary policy decision, due later in the day today.

At 11:11 am; Nifty PSU Bank index, the largest gainer among sectoral indices, was up 1.5% at 2,925. On comparison, Nifty Bank (up 0.13%), Nifty Private Bank (0.07%) and the benchmark Nifty 50 (up 0.39%) were up less than 1%on the NSE.

Allahabad Bank, Union Bank of India, Andhra Bank, Oriental Bank of Commerce, Punjab National Bank (PNB), Syndicate Bank, Bank