At 09:47 am; Nifty PSU Bank index, the largest loser among sectoral indices, was down 1.5% as compared to 0.01% rise in the Nifty 50 index and a marginal 0.02% decline in the Nifty Private Bank index.
Among the PSBs, Syndicate Bank (down 5% at Rs 41.55) and Union Bank of India (down 2% at Rs 81.50) from the Nifty PSU Bank index hit their respective 52-week lows in intra-day trade today. Andhra Bank and Indian Bank too touched 52-week lows today.
The Reserve Bank of RBI on Tuesday said Gross NPA ratio of banks is likely to rise from 11.6% cent in March 2018 to 12.2% by the end of the current financial year ratio.
Referring to the 11 state-owned banks under prompt corrective action framework (PCA), the RBI said they may experience worsening of their GNPA ratio from 21% in March 2018 to 22.3%t by this financial year-end, the PTI report suggested. CLICK HERE TO READ FULL REPORT