Non-financial, banking shares gain after LS passes banking bill
Shares in non-financial banking companies such as Shriram Transport Finance gained on Wednesday a day after a banking bill laying the groundwork for the issuance of new bank licenses was approved by parliament.
Mumbai: Shares in non-financial banking companies such as Shriram Transport Finance gained on Wednesday a day after a banking bill laying the groundwork for the issuance of new bank licenses was approved by parliament.
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The bill also seeks to draw foreign investment to the banking sector by increasing shareholders' voting rights. Reuters[/caption]
The bill also seeks to draw foreign investment to the banking sector by increasing shareholders' voting rights.
Banking shares gained, with State Bank of India up 1 percent, while Bank of India gained 1.3 percent.
Shriram Transport Finance Co Ltd rose 2.2 percent, while Mahindra & Mahindra Financial Services added 1.9 percent.
Reuters
