IDFC shares gain 5.5% as RBI eases infra bond sale norms
RBI on Tuesday provided norms under which banks would be exempted from reserve requirements when raising infra bonds
Mumbai: Shares in IDFC Ltd gained as much as 5.5% after the Reserve Bank of India (RBI) on Tuesday provided the guidelines under which banks would be exempted from reserve requirements when raising long-term bonds for infrastructure.
IDFC, an Indian infrastructure lender that obtained a banking licence in April, is seen as one of the main beneficiaries of the measures.
Shares in IDFC were trading up 4.6% at ₹ 156.90 at 10:05am at BSE on Wednesday, while the benchmark Sensex was up 0.24% to 25,287.99. Reuters
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