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Banking stocks trade in the green despite RBI guv Urjit Patel's resignation

YES Bank gained most, up 7%, trailed by Punjab National Bank, State Bank of India, and Bank of Baroda

YES Bank Photo: Reuters
YES Bank Photo: Reuters

Despite the uncertainty following Reserve Bank of India (RBI) governor Urjit Patel’s exit, majority of banking stocks traded in the green on Tuesday. The rally is particularly true for stocks that have lately come under stringent regulatory surveillance. For instance, leading the pack of gainers was YES Bank with a gain of 7 per cent, trailed by Punjab National Bank, State Bank of India and Bank of Baroda — up 2.7 to 5.7 per cent. Public sector banks (PSBs), whose lending activities have been curbed because of imposition of prompt corrective action (PCA), too, saw their ...