Know how PSU Banks braved market concerns!
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Shares of Finance Minister
As a consequence, the entire PSU Banking basket rallied to its day's high on the
Modest gains were seen on Dena Bank, Bank of India and Andhra Bank as well.
PSU Banks have borne the brunt of the economic slowdown in the country with many companies in the steel, infrastructure, metals and commoditized sectors unable to pay off loans owing to slack demand for their products.
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As a result, the non performing assets of such banks have soared because companies have sought help in either restructuring the tenure and the rate of interest on such loans.
Banks' earnings have been tepid and some lenders have seen their share prices erode sharply because of deepening non performing assets.
(Image credits: Indiatimes)
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