The Bank Nifty opened at 19,340 today and hit a high of 19,410.40.
At 9:24AM, the Bank Nifty is trading at 19,173, up 569 points.
Among the gainers include ICICI Bank, SBI, Canara Bank, Bank of India and PNB on NSE.
“The RBI has reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 8.0% to 7.75% with immediate effect,” RBI said in a statement.
The cash reserve ratio (CRR) of scheduled banks unchanged at 4.0% of net demand and time liabilities (NDTL), it added.