Banking sector is seeing selling pressure in the last few days after reporting good results, what could be the reason as RBI policy meet on 27th October 2009 is putting pressure.
- Bank of India----RBI, barred further buying in the state-run bank's shares by the foreign institutional investors without its prior permission.
- Public Sector banks in which 18% caution limit has been reached and further purchases by FIIs/NRIs/PIOs are allowed only with prior permission of RBI--Punjab National Bank, Bank of Baroda, Union Bank of India, Bank of India
- Private Sector Banks in which the Caution limit in respect of FIIs Investment has reached is Dhanalakshmi Bank Ltd.
- The finance ministry is set to push for consolidation in the public sector banking space and has started work on a road map to create eight to 10 large entities.
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