Shares of public sector banks(PSBs) such as Allahabad BankBSE -0.84 %, Indian Bank, Bank of India among others have crashed up to 25% over the past one month on fears of growing non-performing assets (NPAs) in sectors like chemicals, pharmaceuticals, steel and textiles, as well as the spectre of a rising wage bill.
The future also doesn't look promising for these banks as they are expected to report disappointing results in the coming earnings season.
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