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State-run banks rise on PNB compensation hopes, easing rate woes


By Vishal Sridhar and Krishna V Kurup(Reuters) - Shares of state-run banks rose on Tuesday after a report said Punjab National Bank (PNB) will compensate lenders who have lost money in an alleged fraud, and as easing inflation data allayed fears of a policy rate rise.India's retail inflation eased for the second straight month in February but remained above the 4 percent medium-term target of the Reserve Bank of India (RBI). Analysts from Citigroup and Nomura said they expect the central bank to hold rates in the near-term following the new data.The sector also got a boost on news that Bank ...

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First Published: Tue, March 13 2018. 13:53 IST