Will RBI’s CRR hike to 99% hit HDFC, SBI and other bank stocks? Here’s what Jefferies says

The RBI has raised the minimum daily CRR maintenance requirement to 99% from 90% from October 16 to curb banking system liquidity. Jefferies expects a limited impact on banks’ net interest margins, estimating a potential 1-2 basis point increase in funding costs. It prefers banks over NBFCs in a…

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