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Stocks

Banks Hammered 10%, Yes Bank –25% from July 15

Banks continue to get hammered as the RBI policy changes take short term rates to over 11%. Those who depend largely on wholesale funding, like Yes Bank and IndusInd bank, have been beaten down a lot.

 

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The best is Bank of Baroda and incredibly, SBI.

Banks are going to be in substantially worse shape if this continues.