The Reserve Bank of India (RBI) kept the policy repo rate unchanged at 4% while maintaining its accommodative stance after the conclusion of the Monetary Policy Committee (MPC) meeting today, 4 December 2020.
The Nifty Bank index was up 0.99% at 29,741.30. The 50-unit index was up 0.72% at 13,228.40.Among the private sector banks, ICICI Bank (up 1.9%), RBL Bank (up 1.38%), HDFC Bank (up 0.94%), IDFC First Bank (up 0.81%), City Union Bank (up 0.76%), Axis Bank (up 0.67%), Federal Bank (up 0.23%) and IndusInd Bank (up 0.22%) rose.
Among the public sector banks, Bank of Maharashtra (up 4.99%), Central Bank of India (up 2.86%), UCO Bank (up 2.33%), Union Bank (up 1.94%), Indian Bank (up 1.44%), Indian Overseas Bank (up 0.9%), SBI (up 0.57%) and Bank of India (up 0.51%) advanced.
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