Banks stocks mixed after RBI maintains status quo

10 Feb 2022 , 10:17 AM

The Nifty Bank index was up 0.49% at 38,797.60. Meanwhile, the Nifty 50 index was up 0.24% at 17,506.25.

State Bank of India (up 0.81%), Kotak Mahindra Bank (up 0.81%), HDFC Bank (up 0.78%), Axis Bank (up 0.6%), RBL Bank (up 0.41%) and IndusInd Bank (up 0.39%) advanced.

ICICI Bank (down 0.07%), AU Small Finance Bank (down 0.08%), Bandhan Bank (down 0.09%), IDFC First Bank (down 0.11%), Punjab National Bank (down 0.24%) and Federal Bank (down 0.24%) declined.

RBI kept repo rate unchanged at 4%. Reverse repo rate stands at 3.35%. The Marginal Standing Facility (MSF) rate is at 4.25%

The MPC said the policy stance will remain accommodative as long as needed.

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