PSU Bank Stocks Slide After Government Denies FDI Hike Plan

PSU bank shares fell over 3% after the government clarified it has no proposal to raise FDI limits from 20% to 49%. This triggered a sharp reversal from recent gains. Indian Bank,

PNB and other major PSU lenders led the decline, dragging the Nifty PSU Bank index to 8,257.40.