Mr. Rajnish Kumar, Chairman, SBI and Chairman, IBA on RBI policy announcements

"The RBI policy announcements are bold, decisive, compelling and with a humane touch in attenuating to the needs of the economy to fight through the pandemic. The large rate cut, the adjustment in capital conservation buffer, the moratorium on repayments and the bazooka of conventional CRR cut and unconventional liquidity measure of incentivising banks to support CP market all will help financial markets stabilise, lead to immediate rate transmission and address the credit needs of the real economy. The decision of allowing Indian Banks to participate in NDF market is a positive step in broadening the market participants and better rate discovery. Given that we are in exceptional times, RBI has played the role of championing the cause for the economy and financial system!"

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.196.05 as compared to the previous close of Rs. 192.85. The total number of shares traded during the day was 6482084 in over 56387 trades.

The stock hit an intraday high of Rs. 211.65 and intraday low of 195. The net turnover during the day was Rs. 1311195108.

Source : Equity Bulls

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