At around 3.03 PM, the Bank Nifty was trading at 306.90 points or 0.9%.
PNB was the top gainer surging 4.6%, while SBI climbed 2.5%. Federal Bank and RBL Bank jumped by 2.1% each.
IndusInd Bank zoomed 1.9%, while Axis Bank and IDFC First Bank advanced more than 1% each.
Bandhan Bank, ICICI Bank and Kotak Bank gained between 0.6-1%.
AU Small Finance Bank became the top underperformer down 0.5%. HDFC Bank traded on a flat note.
Niti Aayog has recommended two banks namely the Central Bank of India and Indian Overseas Bank (IOB) suitable for the privatisation plan. It is being known that the Centre may sell stakes in these two state-owned banks as part of its privatisation plan that was announced in Union Budget 2021.