Bank shares plunge after RBI unexpectedly hikes rates
Sep 20 2013
Analysts tracking the sector say this is likely to hit growth further as RBI has chosen inflation over growth in its growth-inflation dynamics.
Among large caps, ICICI Bank shares fall 5.2 percent, while Axis Bank drops 6 percent.
Banks dependent on wholesale deposits also fall. Yes Bank plunges 9 percent, while Indusind Bank is down 6.2 percent.
In state-owned banks, State Bank of India falls 5.3 percent, while Bank of Baroda is down 5.4 percent.