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The Reserve Bank of India will kick off a three-day policy meet from Tuesday. It is widely expected to cut rates by another 25 basis points.
Thus because of this, the Nifty PSU bank index today climbed as much as 3.2 per cent.
Bank of Baroda surged 6.7 per cent, as its merger with Dena Bank and Vijaya Bank came into effect today, thus making it the country's second-largest public sector bank.
Bank of India Ltd and Union Bank of India Ltd shot up 2.2 per cent and 3 per cent respectively, while State Bank of India is 1.6 per cent higher.
Jammu and Kashmir Bank Ltd soared as much as 11.55 per cent to its highest since August 2018.
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