State-run banks extend rally on new deadline for Basel III
Mar 28 2014 , Mumbai
State Bank of India gains 2.8 percent, Bank of Baroda 2.7 percent and Punjab National Bank 3.3 percent.
"Additional capital requirements for FY15-FY16 for public sector banks would almost halve after RBI's move," an analyst tracking the sector at a foreign brokerage said.
Banks have surged this month - with the NSE bank sub-index up 18 percent on hopes of a recovery in the domestic economy, central bank's potentially easing monetary policy and broker upgrades.