{
  "id": 12571236,
  "title": "PNB, Kotak Mahindra Bank, other bank stocks rise up to 2% after RBI’s rate hike, Nifty Bank above 55,500",
  "url": "https://urgent.news/2026/10/07/pnb-kotak-mahindra-bank-other-bank-stocks-rise-up-to-2-after-rbis",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T06:02:05.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/pnb-kotak-mahindra-bank-other-bank-stocks-rise-up-to-2-after-rbis-rate-hike-nifty-bank-above-55500/articleshow/134757463.cms"
  },
  "original_language": "en",
  "account": "Bank stocks saw a 2% increase on Wednesday following the Reserve Bank of India (RBI) Governor Sanjay Malhotra announcing a rate hike for the first time in four years. The Nifty Bank index climbed over 147 points to 55,276 in the morning, while the broader Nifty 50 slipped around 100 points and dropped below 22,680. Major banks like Kotak Mahindra Bank rose 2%, and Union Bank, Canara Bank, Punjab National Bank (PNB), Axis Bank, and State Bank of India (SBI) also gained around 1%. Federal Bank, Bank of Baroda, and ICICI Bank were also in the green with minor gains. Nifty Financial Services turned positive as well. RBI Governor Malhotra stated that the economy remains strong, with broad-based momentum, and despite global challenges, the MPC decided to raise the policy repo rate by 25 basis points to 5.50%. Analysts believe that banks will benefit from higher floating rates, improving their margins, while the outlook for net interest margins (NIMs) becomes more constructive in the second half of the year.",
  "summary": "Bank stocks including Kotak Mahindra Bank, PNB, Union Bank and Canara Bank gained up to 2% after the RBI rose on Monday after the repo rate by 25 basis points to 5.50%. The Nifty Bank index rose as investors assessed the impact of the rate hike and the RBI’s shift to calibrated tightening.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Hindu BusinessLine",
        "title": "Rupee falls 22 paise to 96.57 against US dollar after RBI rate hike",
        "url": "https://urgent.news/2026/10/07/rupee-falls-22-paise-to-96-57-against-us-dollar-after-rbi-rate-hike",
        "published": "2026-10-07T07:03:10.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}