Gold Silver Reports (GSR) – Banks Gain As RBI Grants Breather Ahead Of RBI Monetary Policy Decision — Shares of private and government-owned lenders were trading higher after the Reserve Bank of India provided relief to lenders by allowing them to reduce provisioning on NCLT accounts for March quarter ahead of the monetary policy decision.
Gauge of banking shares on the NSE — Nifty Bank index rose 1.2 percent with all the shares trading higher.
Read More: RBI Policy Day 2018
Banks are required to provide for only 40 percent on secure loans, as compared with 50 percent earlier and the breather will be available to banks only for March quarter.
