Banking Stocks Trade Flat Following RBI Monetary Policy

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Banking shares were trading flat, as the Reserve Bank of India (RBI) monetary policy was largely in line with expectations.

The Bank Nifty was trading at 17,415 points, down 0.09 per cent. Axis Bank, Bank of Baroda, Canara Bank and Yes Bank were among the losers. However, IndusInd Bank and ICICI Bank were among the gainers in trade.

The RBI today held repo rates steady, as was largely expected. Repo rates are interest rates at which the country's central bank lends money to other banks.

Banking Stocks Trade Flat Following RBI Monetary Policy
The RBI also kept CRR rates steady and warned on inflation trending higher. This year, the Reserve Bank of India has cut interest rates by 125 basis points, on the back of a sharp drop in interest rates.

Banking stocks are trading lower, since the start of the year, as non performing asset woes continue to bother the industry.

Private and public sector banks, have seen their stock prices fall, even as growth rates in the economy remain subdued.

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