Govt Banks Shares Rise Again Ahead of Gyan Sangam Meet

Business

oi-Sunil

By Sunil Fernandes

Updated: Friday, January 2, 2015, 10:37 [IST]

Shares in Government owned banks rallied for the 4th successive trading session ahead of the government's Gyan Sangam meet which begins today in Pune.

The Gyan Sangam meet would be a deliberation among PSU banking Chiefs along with Prime Minister Narendra Modi, RBI governor Raghuram Rajan and Finance minister Arun Jaitley among others.

The 2-day meet in Pune would focus on reforms for the PSU banking sector and how to handle the burgeoning NPAs at PSU banks in the country.

Shares of most of the PSU Banking stocks were trading higher. Syndicate Bank was up 1 per cent at Rs 135, while State Bank of India was up 1.19 per cent, United Bank was up 3 per cent, State Bank of Mysore was up 1 per cent, IDBI Bank was up 1.5 per cent, Bank of India rallied 0.66 per cent, Bank of Baroda 1.25 per cent and Punjab National Bank up almost one per cent.

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