Reuters Market Eye - The Bank Nifty fell as much as 6.6 percent after Reserve Bank of India Governor Raghuram Rajan surprised markets in his maiden policy review on Friday by raising interest rates to ward off rising inflation.
Analysts tracking the sector say this is likely to hit growth further as RBI has chosen inflation over growth in its growth-inflation dynamics.
In state-owned banks, State Bank of India falls 5.3 percent, while Bank of Baroda (NSI:BANKBARODA) is down 5.4 percent.
(Reporting by Abhishek Vishnoi)
- Banking & Budgeting
- Reserve Bank of India
- ICICI Bank
- Axis Bank
- Indusind Bank