Shares of Indian banks fell on Wednesday after the central bank announced fresh measures to drain cash,making access to short-term funds harder. Yes Bank Ltd dropped 5.81 percent,while IndusInd Bank Ltd fell 6.76 percent. The Reserve Bank of India on Tuesday lowered the overall limit for borrowing under the daily liquidity adjustment facility (LAF),which offers funds in exchange for collateral,for each bank to 0.5 percent of deposits from 1 percent. The NSE banking index was down 3.25 percent.
Written by Reuters | Mumbai | Published: July 24, 2013 11:02:25 am