Nifty PSB index in a free fall: Time to initiate last of 4 'R's in banking

The Nifty PSU Bank index declined 3.57% on Wednesday with Andhra Bank, Canara Bank and Allahabad Bank sustaining the maximum damage.

Indian equity markets registered yet another day of decline — the sixth one in a row — with the Sensex and the Nifty at the year’s lowest level. While some of it can be attributed to weak global clues, thanks to apprehensions of a trade war brewing in the West, the key concern in the domestic market is the nervousness over the banking sector, particularly public sector banks. The Nifty PSU Bank index declined 3.57 per cent on Wednesday with Andhra Bank, Canara Bank and Allahabad Bank sustaining the maximum damage. A big part of the worry surrounding banking stocks