Shares of Vijaya Bank fell nearly 2 per cent on Bombay Stock Exchange (BSE) on concerns that payment banks pose a risk to public lenders' market share. The government announced a seven-point reform agenda for these banks. According to rating agency, Fitch, the proposed payments banks will increase competition for public sector lenders and could also pose risks to their market share over the long-term, the PTI report suggests.
Following the development, shares of the company dropped 1.95 per cent to Rs 37.65 a piece on BSE.
In a similar trend, shares of the company dipped 3.87 per cent to Rs 710.95 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 27,242.89, down 364.93 points, or 1.32 per cent at 11.30 hours.