Demonetisation: Banking stocks may crack owing to RBI's liquidity measures
Shital Jibhe / 28 Nov 2016
Banking stocks may certainly be in focus and are likely to crack on November 28. RBI on November 26 post markets hours announced that on the increase in NDTL between September 16, 2016 and November 11, 2016, scheduled banks shall maintain an incremental CRR of 100 per cent, effective the fortnight beginning November 26, 2016.
Banking stocks may certainly be in focus and are likely to crack on November 28. RBI on November 26 post markets hours announced that on the increase in NDTL between September 16, 2016 and November 11, 2016, scheduled banks shall maintain an incremental CRR of 100 per cent, effective the fortnight beginning November 26, 2016. This is intended to absorb a part of the surplus liquidity arising from the return of SBNs to the banking system, while leaving adequate liquidity with banks to meet the credit needs of the productive sectors of the economy.
As the incremental CRR is intended to be a temporary measure within the Reserve Bank’s liquidity management framework, to drain excess liquidity in the system, it shall be reviewed on December 9, 2016 or even earlier. The Bankex on November 26 closed 247 points higher at 21185.06. Banking stocks like SBI, HDFC, Axis Bank, Federal Bank, Yes Bank, ICICI Bank will be in focus.
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