PSU banks gain as FM says banks ready to support growth

Key public sector bank stocks edged higher at 11:23 IST on BSE on hopes of further capital infusion after the finance minister Arun Jaitley in his Budget speech said that the public sector banks are ready to support India's growth.

IDBI Bank (up 1.41%), Punjab National Bank (up 1.11%), Indian Bank (up 0.99%), Bank of India (up 0.73%), State Bank of India (up 0.56%) and Bank of Baroda (up 0.25%) gained.

Meanwhile, the S&P BSE Sensex was up 251.77 points or 0.7% at 36,216.79.

Jaitley, in his Budget speech for FY 2019 said that the recapitalised public sector banks (PSBs) are ready to support India's growth. The country achieved 7.5% average growth in three years of NDA government, he said.

 

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