E-Paper
Banking stocks plummet on farm loan waiver
Banking stocks started sliding on Friday as soon as a proposal to waive farm loans was announced by Chidambaram.
Updated on: Feb 29, 2008, 14:01:22 IST
Share via
Copy link
Banking stocks started sliding on Friday as soon as a proposal to waive farm loans was announced by Finance Minister P Chidambaram while presenting the national budget.
The Finance Minister presented the budget for 2008-09 in the Lok Sabha.
Chidambaram said the government would write off farm loans on landholdings of up to 2 hectares.
The Bankex index on the Bombay Stock Exchange plummeted 261.18 points or 2.59 per cent. All the 18 banking scrips in the index were trading in the red.
Bankex opened at 10,021.76 points and was trading at 9,812 points at noon.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
