Axis Bank has been trading low for last few quarters as the bank was having higher NPA levels and exposure to stressed assets.
RBI announced monetary policy yesterday with 25 basis points repo-rate cut. The markets were expecting small rate cut but the downward revision of GDP by RBI led to decline in stock markets.
RBI Panel reduced repo rate by 25 basis points. The decision will be positive for the economy and if banks pass on the benefits, their loan book can grow.
RBI panel announced 25 basis points rate cut but Indian stock markets were expecting a small rate cut. The rate cut hasn't led to any major market movement.
Indian public sector banks have been suffering for last few years due to high non-performing assets. The banking sector needs government's support and strong reforms for its revival.
Indian government has move ahead with its decision to consolidate some of the public sector banks in order to improve efficiency and have better control over management of these banks.
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