On the index, Canara Bank and Bank of Baroda were the top performers, surging between 4-5%. While Union Bank gained by nearly 4%.
Bank of Maharashtra, Central Bank of India and Bank of India soared between 2.5-3%.
While a 2% jump each was witnessed in Indian Bank and PNB, followed by a 1% spurt each in UCO Bank and J&K Bank. SBI stock, however, gained marginally up.
On the other hand, Indian Overseas Bank was the only top underperformer, down nearly 1% on the index.
RBI governor Shaktikant Das and monetary policy committee (MPC) members will begin their December 2020 policy meeting from tomorrow onwards. A final announcement will be made on December 04, 2020, by the MPC.
In the previous policy, RBI kept the policy repo rate unchanged at 4%. Similarly, the reverse repo rate under the LAF remains unchanged at 3.35 %. While the marginal standing facility (MSF) rate and the Bank Rate at 4.25%.
The central bank has also kept the monetary policy stance to accommodative.