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RBI's G-sec purchases under 'operation twist' a comforting factor for PSBs

The fall in 10-year G-Sec yields is estimated to benefit state-owned banks by Rs 5,760 crore; Nifty PSU Bank rises 3%

Shreepad S Aute 

The Reserve Bank of India’s (RBI’s) move to purchase long-tenure government bonds (G-Sec) under ‘operation twist’ augurs well for public sector banks (PSBs). The Nifty PSU Bank index gained about 3 per cent on Friday, following the RBI’s second auction announcement on Thursday evening.

The Nifty ended up 1 per cent gain on Friday. The expected mark-to-market (MTM) gains, on account of lower yields on G-secs, also lift the PSBs’ overall earnings outlook. The announcement of Rs 20,000 crore of 10-year G-Sec purchases by the RBI under ...

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First Published: Fri, December 27 2019. 20:12 IST
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