Book value of state-owned banks turns more opaque - MStanley
Aug 21 2013
Analysts say the RBI steps will make it hard to judge actual losses on bonds, loans and provisions in state-owned banks.
The RBI on Tuesday relaxed rules on mandatory bond holdings for banks, which would help protect lenders from large mark-to-market losses.
Morgan Stanley advises to reduce positions in state-owned bank stocks after the RBI steps. The Bank Nifty is off highs, up 0.3 percent after earlier rising as much as 5.93 percent following RBI measures.